The intrinsic value of cryptocurrencies is debatable. But one thing is clear: Crypto investments are becoming increasingly important for investors, both private and institutional. This is, of course, due to the high profits that Bitcoin & Co. have made in recent weeks. But it is also becoming apparent that crypto investments are obviously not a flash in the pan, as many investors thought years ago.

Against this backdrop, it is essential for a leading market operator like Deutsche Börse to offer a powerful solution for spot trading cryptocurrencies. Until now, cryptoassets could only be acquired on Deutsche Börse indirectly via ETPs, while cryptoassets were already being traded diligently in Stuttgart. In this respect, Deutsche Börse is coming late with its crypto spot platform for institutional investors.

But it is unlikely that Deutsche Börse comes too late. For one thing, diligence counts, especially with somewhat volatile assets such as crypto. For example, it was first necessary to obtain the required licences from BaFin in order to set up an appropriately regulated platform for digital assets. It may also be that a complete solution with trading, settlement and custody of the appropriate quality cannot be realised overnight.

Above all, however, institutional investors in Germany are just beginning to invest more in crypto and offer new crypto solutions. A number of financial institutions are likely to launch crypto products in the coming weeks. The addition of crypto as an asset class is also likely to play a more significant role. It is, therefore, necessary for the entire German financial centre to have an optimally regulated offering from Deutsche Börse. All in all, the launch of the German stock exchange's crypto platform may be overdue, but it is definitely an important step.

How quickly the new platform fills up depends not only on demand but also on the exchange's next steps.