Boerse Stuttgart, one of Germany’s leading stock exchanges, has witnessed a remarkable surge in its cryptocurrency trading business in recent years, which now constitutes approximately 25% of its overall revenue.
Although the exchange group has not disclosed the exact cryptocurrency trading volume, they reported in a press release at the end of last year that this metric “almost tripled” in 2024, achieving its best performance to date. Currently, Boerse Stuttgart has around €4.3 billion ($4.45 billion) in custody.
The impressive growth of the exchange’s crypto business coincides with a phenomenon of spot ETF mania in the United States, which has seen an influx of $36.2 billion in inflows during 2024.
According to Matthias Voelkel, the firm’s CEO, Bitcoin has played a significant role, accounting for nearly 50% of the exchange’s cryptocurrency revenue. Voelkel revealed to global news agency Agence France-Presse (AFP) that the exchange has dedicated the last five years to enhancing its cryptocurrency trading platform.
The exchange’s strategic focus on attracting both professional and retail investors in the German-speaking market has paid off, with the platform now boasting over one million cryptocurrency trading clients.
Voelkel himself has participated in the cryptocurrency scene, having invested in Bitcoin after evaluating the advantages of the blockchain technology that supports it, as well as the belief that the cryptocurrency’s popularity will continue to rise.
Boerse Stuttgart’s offerings extend through its digital exchange and the BISON app, designed for retail traders.
Last year, the exchange launched a fully insured cryptocurrency staking service on the BISON app, developed in partnership with German insurance giant Munich Re and staking provider Staking Facilities.
CoinDesk reached out to Boerse Stuttgart for further comments but did not receive a response before press time.
