Boerse Stuttgart, one of Germany’s leading exchanges, has seen its cryptocurrency trading business explode in recent years to now represent around 25% of its overall turnover.
Without revealing the exact volume of cryptocurrency trading, the exchange group said in a press release late last year that the metric had “nearly tripled” in 2024 to record its best performance ever. In custody, Boerse Stuttgart held approximately €4.3 billion ($4.45 billion).
The relative success of the exchange’s crypto business comes amid a craze for spot ETFs in the United States, the launch of which generated inflows of $36.2 billion in 2024.
Bitcoin accounted for nearly 50% of the exchange’s cryptocurrency revenue, according to the company’s CEO Matthias Voelkel, who told global news agency Agence France-Presse (AFP) that the exchange passed the five recent years to develop its cryptocurrency trading platform.
The exchange’s focus on attracting professional and retail investors in the German-speaking world has apparently proven successful as the platform has now managed to attract over a million cryptocurrency trading clients.
Voelkel himself, according to AFP, invested in bitcoin after examining the benefits of the blockchain technology that underpins the cryptocurrency and believing that its popularity will continue to grow.
Boerse Stuttgart offers services through its digital stock exchange as well as the retail-focused trading app BISON.
Last year, it launched a fully insured cryptocurrency staking service on the BISON app through a partnership with German insurance giant Munich Re and staking provider Staking Facilities.
CoinDesk contacted Boerse Stuttgart but did not receive a response before publication time.
