The investment includes a strategic partnership that will connect Tradeweb’s institutional trading network with Crossover’s CROSSx platform for spot crypto liquidity.
Electronic trading company Tradeweb has led a $31 million Series B funding round in institutional crypto trading platform Crossover Markets, valuing the company at $200 million. The round included participation from DRW Venture Capital, Ripple, Virtu Financial, Wintermute Ventures, Illuminate Financial and XTX Markets.
According to Wednesday’s announcement, the deal also includes a strategic partnership that will allow Tradeweb’s clients to access spot crypto liquidity through Crossover’s CROSSx electronic communication network (ECN), marking the company’s entry into institutional cryptocurrency trading and linking its global network of institutional traders with digital asset markets.
The investment comes as venture funding for crypto startups has rebounded over the past 18 months. Investors deployed more than $20 billion across about 1,660 deals in 2025, the largest annual total since 2022, with trading, exchange and infrastructure companies attracting the largest share of capital, according to Galaxy research.
