Gibraltar-based Xapo Bank, a private bank and Bitcoin custodian, reported a significant increase in Bitcoin trading volumes in the first quarter as its high-net-worth clients purchased Bitcoin amid market volatility.
Xapo Bank noted a 14.2% rise in Q1 trading volume compared to Q4 2024, attributing the growth to a drop in Bitcoin prices that encouraged trading.
The bank highlighted that its affluent members “actively bought the dip,” demonstrating their “commitment to Bitcoin’s long-term potential.”
In early 2025, Bitcoin experienced its worst start to a year since 2018, ending the quarter down 13%. The bank, known for its crypto-friendly approach, became the first licensed institution in the UK to offer interest-bearing Bitcoin and fiat accounts in 2025 and introduced Bitcoin-backed USD loans of up to $1 million in March.
