Institutional crypto trading hits a record 72% as Wall Street calms crypto’s wild swings A new report from market maker Wintermute found that institutions now dominate crypto trading, driving lower volatility, selective altcoin flows and growth in tokenized assets. -…
stitutions accounted for a record 72% of spot trading volume on Wintermute’s OTC desk in the first half of 2026. – The report says institutional capital is reducing volatility while concentrating liquidity in a smaller group of cryptocurrencies. – Demand for crypto derivatives and tokenized real-world assets continued to grow as professional investors expanded beyond spot trading. Institutional investors are now shaping crypto markets more than retail traders, marking what Wintermute has described as a turning point in the evolution of digital assets
According to the firm’s latest market report, institutions accounted for roughly 72% of spot trading volume on its over-the-counter (OTC) desk during the first half of 2026, the highest share on record and a sharp increase from about 61% in the second half of last year. “As crypto works through a bear market, with retail largely absent and preoccupied with equities, the structure underneath is easier to see,” the report said. “The asset class is maturing, whatever recent price action suggests.” Rather than chasing short-term price swings, institutional investors tend to operate under defined mandates and risk limits, holding positions over longer periods. The result, the report said, is a market with lower volatility and liquidity concentrated in a smaller group of assets. Realized volatility has fallen from roughly 70% in earlier market cycles to around 45% in the current one, according to Wintermute’s analysis.
The report also found institutional investors trade a relatively narrow universe of tokens, while retail investors continue to spread activity across a much larger number of assets. That concentration could make future altcoin rallies more…