We may be seeing the beginning stages of maturation in the market for institutional-grade services for trading digital assets, evidenced by consolidation in the sector as well as its first later-stage deals, according to a new report from The Block Research.

According to the report, there are now 40 companies that provide digital asset trading services for institutional clients. Since 2014, such firms have raised $583.5 million in total, from 66 investment deals. A total of 108 unique investors made at least one investment in a crypto/blockchain firm that fits this profile. 

2020 saw $251.4 million invested across venture deals. This year also showed the first signs of later-stage deals happening, with $52.2M invested in late-stage startups, providing evidence of the maturing market.

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