Posted 1/18/2024, 2:00:00 PM
Crypto Market Maker Flowdesk Raises $50M to Boost Liquidity for Bitcoin ETFs
- Flowdesk, a crypto market maker, raised $50M in a Series B funding round led by Cathay Innovation
- The company recently became a liquidity provider for Grayscale's bitcoin ETF
- Flowdesk will use the new funding to expand its OTC offering, hire more staff, and extend regulatory coverage
- The company also provides liquidity for Societe Generale's euro-stablecoin EUR CoinVertible
- The sizable funding Flowdesk attracted shows the importance of liquidity providers for bitcoin ETFs to attract institutional investors