Sygnum, a Swiss global crypto banking group with about $4.5 billion in client assets, reported that it reached profitability following a strong first half, with key metrics showing year-to-date growth.

The company said in a news release that compared with the year-earlier period, it saw a twofold increase in crypto spot trading volumes, a 500% expansion of crypto derivatives trading, and a 360% surge in lending volumes. Specific first-half profit figures were not disclosed.

Sygnum said its Staking-as-a-Service also grew, with the percentage of Ethereum staked by clients increasing to 42%. For institutional clients, staking Ethereum presents a benefit beyond the limitations of the ETF framework, which excludes staking yields, Sygnum noted.

“The approval and launch of Bitcoin and Ethereum ETFs were a watershed moment for the crypto sector this year, leading to a major increase in demand for trusted, regulated exposure to digital assets,” said Martin Burgherr, Sygnum’s chief clients officer.

He added: “This is also reflected in Sygnum’s own growth, with our core business areas seeing a significant YTD increase in H1.”

Sygnum, which has also been licenced in Luxembourg since 2022, plans to expand in both the European and Asian markets, according to the release.