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Gibraltar-based Xapo Bank, a backstage slope and Bitcoin custodian, reported a surge successful Bitcoin trading volumes successful the archetypal 4th arsenic its high-net-worth members scooped up Bitcoin amid marketplace turbulence.
Xapo Bank said that Q1 trading measurement grew 14.2% compared to the Q4 2024, arsenic the Bitcoin (BTC) terms driblet helped thrust trading measurement maturation connected its platform. It said that during the decline, its precocious net-worth members “actively bought the dip,” reflecting these members’ “commitment to the semipermanent imaginable of Bitcoin.”
In the archetypal 4th of 2025, Bitcoin had its worst commencement to a year since 2018, closing the 4th down 13%.
The crypto-friendly slope became the first licensed slope to motorboat interest-bearing Bitcoin and fiat banking accounts successful the UK successful 2025 and launched Bitcoin-backed USD loans of up to $1 cardinal successful March 2025.
Xapo Bank’s self-selected canvass connected X showed respondents favored utilizing Bitcoin for savings and investment. Source: Xapo Bank
It besides recorded a 50% quarter-on-quarter leap successful euro deposits. “This accelerated summation successful measurement came amidst mounting interest astir the aboriginal of US dollar primacy and the menace of a US recession arsenic markets braced for Trump’s planned ‘Liberation Day’ successful April,” the slope said.
There were besides important shifts successful Xapo members’ stablecoin deposit patterns, with USDC deposits up 19.8% successful Q1 and Tether (USDT) deposits down 13.4%. This displacement comes arsenic European cryptocurrency exchanges moved to delist Tether successful bid to comply with Markets successful Crypto-Assets Regulation regulations.
“Xapo Bank subordinate information shows that contempt short-term headwinds, the bigger representation for Bitcoin remains beardown and existent volatility does not diminish Bitcoin's importance,” said Gadi Chait, Xapo Bank’s caput of investment.
Chait added that “while planetary events painted an erratic picture, the accidental for Bitcoin has ever been successful its semipermanent performance, not its short-term volatility.”
Related: Exclusive: Inside a Swiss atomic bunker’s concealed Bitcoin vault
Crypto speech Bitget besides sees Q1 trading volumes surge
Market turmoil besides prompted a flurry of enactment connected integer currency speech Bitget, according to its Q1 2025 Transparency Report.
Bitget’s full trading measurement deed $2.1 trillion successful the archetypal 4th of 2025, arsenic spot trading measurement saw a quarter-on-quarter summation of 159%, rising to $387 billion.
This surge successful trading measurement came arsenic Bitget’s full idiosyncratic basal grew by astir 20%, with the speech adding an further 4.89 cardinal users connected its centralized speech and 15 cardinal users connected its Bitget Wallet app — bringing its full planetary idiosyncratic number to implicit 120 million.
Bitget’s CEO, Gracy Chen, said the speech volition proceed to “focus connected institutional-grade infrastructure and treble down connected expanding its Web3 beingness done our ecosystem.”
In February, Bitget loaned rival speech Bybit 40,000 ETH, valued astatine astir $100 million, aft Bybit suffered a large hack. The indebtedness has since been afloat repaid by Bybit.
“No interest, nary collateral — this was simply astir supporting a adjacent successful need. Great to spot Bybit afloat recovered, and we ne'er doubted the instrumentality of the loan,” Chen said.
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