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Denmark based CASP
4.8/5

Hassle free OTC trades, with market leading prices, and execution

Penning's OTC desk offers a single point of entry for all your OTC trading needs. We offer the widest selection of crypto assets for OTC orders, of course including Bitcoin (BTC) and Ethereum (ETH). We offer settlement in multiple fiat currencies, or you can select any stablecoin of your choice.
Place order
Contact us

World class OTC, with market’s best order execution

Trade
Scalability
Execute any order sizes, complaint & efficient.
Liquidity
Access to largest liquidity pools in the market.
Flexibility
Easy access, with multiple fiat currencies.
Benefits
Access deep liquidity for spot and derivatives trades over €100,000
Discreet, secure trading solutions
Competitive execution and settlement options

Private, personalized services for large crypto trades

Place order
Trading Terms
€100,000
Min. order
2%
Base fee
0.3%
Bank fee
Low-risk savings strategy
What this strategy does
New asset classes bring new  opportunities. Leveraging the technology of the crypto market, innovative savings products can be developed that maintain traditionally low-risk levels while offering higher, next-gen profit potential.

Penning Save offers safe, transparent and low-risk savings products for the risk averseinvestor that still wants to leverage the new technology the crypto market brings, and thus giving the potential for higher returns.

The majority of the investments done in Penning Save offer full capital protection, meaning the only risk we take on is the counterparty risk, which in this case is the worlds second largest crypto exchange.
~APR
Approximate Annual Percentage Rate — the expected yearly return based on current performance data.
5%
~Drawdown
Represents the potential decrease from a peak to a trough during trading activity.
0%–2%
Risk level
Indicates the estimated level of investment risk associated with this strategy.
Very Low
Profit potential
Shows the likelihood of achieving higher returns relative to the assumed risk.
Very Low
How investing works
Apply to invest
Penning Trend — Time the Market
What this strategy does
Penning Trend offers a sophisticated alternative to the conventional buy-and-hold approach to Bitcoin and Ethereum. Rather than passively holding through market cycles, Penning Trend seeks to generate meaningful relative outperformance against the underlying assets over time.

The product combines spot holdings in Bitcoin and Ethereum as core long-term exposure, with the Phoenix Protocol serving as the active market-cycle timing layer. The Phoenix Protocol dynamically adjusts exposure based on market cycles — aiming to capture more of the upside in bull markets and protect more of the downside in bear markets.

Think of it as a smarter version of simply holding Bitcoin and Ethereum. Instead of just sitting still, the strategy actively adjusts how much is held based on where we are in the market cycle.

Time horizon: Long-term (2–5 years)
Risk: Low–Medium | Profit potential: Medium–High
~APR
Approximate Annual Percentage Rate — the expected yearly return based on current performance data.
20%
~Drawdown
Represents the potential decrease from a peak to a trough during trading activity.
10%–30%
Risk level
Indicates the estimated level of investment risk associated with this strategy.
Low–Medium
Profit potential
Shows the likelihood of achieving higher returns relative to the assumed risk.
Medium–High
How investing works
Apply to invest
Penning Trade — Markets Solved With Math
What this strategy does
Penning Trade is a dynamically rebalanced portfolio of proprietary algorithmic trading strategies, deployed across Bitcoin and Ethereum perpetual futures.

The portfolio is designed to be market-neutral, maintaining a balance of long and short positioning to generate returns that are independent of broader directional market trends. The portfolio draws on between four and six active strategies at any given time, each built in-house.

Capital is continuously evaluated and redistributed based on strategy correlation, rolling performance metrics, and prevailing market regime. This product runs a team of algorithms that trade Bitcoin and Ethereum futures around the clock.

They go both long and short, meaning the strategy is designed to find opportunities whether the market is going up, down, or sideways.
Time horizon: Short – Medium term (1–2 years)
Risk: Medium–High | Profit potential: High
~APR
Approximate Annual Percentage Rate — the expected yearly return based on current performance data.
40%
~Drawdown
Represents the potential decrease from a peak to a trough during trading activity.
10%–60%
Risk level
Indicates the estimated level of investment risk associated with this strategy.
Medium–High
Profit potential
Shows the likelihood of achieving higher returns relative to the assumed risk.
High
How investing works
Apply to invest
Assets flow and custody

We settle via segregated client bank accounts and MPC wallets.

Assets are held in segregated  MPC wallets. If a trade is cancelled, funds/coins are returned to the originating account/address.
Confirm quote
01
Accept the RFQ; we issue a trade ticket and your unique settlement reference.
Send fiat
02
Wire EUR via SEPA (T+0) or USD via SWIFT (T+1) to your segregated client account. Use the provided reference.
Execution
03
Once funds land (or PoP is approved), our desk executes your block across multiple venues at the agreed spread.
Delivery
04
Tell us where to deliver: exchange, institutional custody, or your self-custody address. We transfer from our vault and share the tx hash.
Proof & reporting
05
Receive a PDF trade receipt, settlement confirmation, and exportable statements for reconciliation.

Get your receipt

After every OTC trade you get an audit-ready Receipt & Reporting Pack:
a PDF trade ticket with full execution details , bank proof of funds and monthly statements with P&L and cost-basis in PDF. Download it anytime from the dashboard or auto-forward to your accountant—perfect for income and tax reporting.
Our packages

Contact
Jimmie Steinbeck

And learn more about the opportunities Penning Financial Services can offer for your Crypto related needs.
Contact
Low-risk savings strategy
What this strategy does
New asset classes bring new  opportunities. Leveraging the technology of the crypto market, innovative savings products can be developed that maintain traditionally low-risk levels while offering higher, next-gen profit potential.

Penning Save offers safe, transparent and low-risk savings products for the risk averseinvestor that still wants to leverage the new technology the crypto market brings, and thus giving the potential for higher returns.

The majority of the investments done in Penning Save offer full capital protection, meaning the only risk we take on is the counterparty risk, which in this case is the worlds second largest crypto exchange.
~APR
Approximate Annual Percentage Rate — the expected yearly return based on current performance data.
5%
~Drawdown
Represents the potential decrease from a peak to a trough during trading activity.
0%–2%
Risk level
Indicates the estimated level of investment risk associated with this strategy.
Very Low
Profit potential
Shows the likelihood of achieving higher returns relative to the assumed risk.
Very Low
How investing works
Apply to invest
Penning Trend — Time the Market
What this strategy does
Penning Trend offers a sophisticated alternative to the conventional buy-and-hold approach to Bitcoin and Ethereum. Rather than passively holding through market cycles, Penning Trend seeks to generate meaningful relative outperformance against the underlying assets over time.

The product combines spot holdings in Bitcoin and Ethereum as core long-term exposure, with the Phoenix Protocol serving as the active market-cycle timing layer. The Phoenix Protocol dynamically adjusts exposure based on market cycles — aiming to capture more of the upside in bull markets and protect more of the downside in bear markets.

Think of it as a smarter version of simply holding Bitcoin and Ethereum. Instead of just sitting still, the strategy actively adjusts how much is held based on where we are in the market cycle.

Time horizon: Long-term (2–5 years)
Risk: Low–Medium | Profit potential: Medium–High
~APR
Approximate Annual Percentage Rate — the expected yearly return based on current performance data.
20%
~Drawdown
Represents the potential decrease from a peak to a trough during trading activity.
10%–30%
Risk level
Indicates the estimated level of investment risk associated with this strategy.
Low–Medium
Profit potential
Shows the likelihood of achieving higher returns relative to the assumed risk.
Medium–High
How investing works
Apply to invest
Penning Trade — Markets Solved With Math
What this strategy does
Penning Trade is a dynamically rebalanced portfolio of proprietary algorithmic trading strategies, deployed across Bitcoin and Ethereum perpetual futures.

The portfolio is designed to be market-neutral, maintaining a balance of long and short positioning to generate returns that are independent of broader directional market trends. The portfolio draws on between four and six active strategies at any given time, each built in-house.

Capital is continuously evaluated and redistributed based on strategy correlation, rolling performance metrics, and prevailing market regime. This product runs a team of algorithms that trade Bitcoin and Ethereum futures around the clock.

They go both long and short, meaning the strategy is designed to find opportunities whether the market is going up, down, or sideways.
Time horizon: Short – Medium term (1–2 years)
Risk: Medium–High | Profit potential: High
~APR
Approximate Annual Percentage Rate — the expected yearly return based on current performance data.
40%
~Drawdown
Represents the potential decrease from a peak to a trough during trading activity.
10%–60%
Risk level
Indicates the estimated level of investment risk associated with this strategy.
Medium–High
Profit potential
Shows the likelihood of achieving higher returns relative to the assumed risk.
High
How investing works
Apply to invest
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Frederiksgårds Allé 16A, st. th.
2720 -  Vanløse, Denmark
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2026 Penning Group ApS. All rights reserved.
Trustpilot
Penning Financial Services ApS is licensed by the Danish Financial Supervisory Authority (Finanstilsynet) as a Crypto-Asset Service Provider (CASP) under the EU Markets in Crypto-Assets Regulation (MiCA), FTID 10902. Penning Financial Services ApS (CVR: DK44645971) and Penning A/S (CVR: DK42312428) are part of Penning Group ApS (CVR: DK42310352), all companies registered and incorporated in Copenhagen, Denmark. Hereinafter collectively referred to as "Penning."
Verify our registration at Finanstilsynet.dk .

To ensure transparency and peace of mind for our clients, we operate under the strictest European standards for financial services involving crypto-assets: Our IT security systems are built according to the principles of ISO 27001 to ensure maximum data protection and information security. We comply with the requirements of the DORA Regulation (Digital Operational Resilience Act), which sets the highest EU standards for digital operational resilience and protection against cyber threats. We utilize the ISO 20022 methodology for financial data exchange to ensure precise and standardized transaction reporting. Our asset custody processes follow the principles of ISO/IEC 27017 for cloud-based security, safeguarding your funds in a modern digital environment. We adhere to the technical standards of the Transfer of Funds Regulation (TFR), also known as the 'Travel Rule,' to ensure full traceability and combat financial crime. Our algorithms and order execution systems are designed according to MiCA 'Best Execution' standards to ensure our clients receive the most optimal trading terms. We follow the ISO 31000 guidelines for risk management, integrating security and stability into all our investment decisions and portfolio management. We maintain strict segregation of client funds and corporate assets in accordance with MiCA regulation requirements for asset protection. Our market monitoring systems are configured to detect and prevent market abuse, ensuring a fair and transparent trading environment for all users.

Penning does not provide investment advice, financial advice, or recommendations of any kind. All investment decisions are made solely by the client. Crypto-assets are highly volatile and carry substantial risk, including the risk of total loss of capital. Crypto-assets are not legal tender, are not backed by any government, and are not covered by any deposit guarantee or investor compensation scheme, including the Danish Guarantee Fund (Garantiformuen). Past performance is not indicative of future results.

Clients are solely responsible for determining and fulfilling their tax obligations in their country of residence. Penning cannot be held responsible for any costs, taxes, penalties, or other losses resulting from the purchase, sale, or holding of any assets, including non-compliance with laws or regulations in the client's jurisdiction.

Penning's services are directed at residents of the European Union and the European Economic Area (EU/EEA). Penning does not actively market or solicit services toward jurisdictions outside the EU/EEA. Penning's CASP license does not constitute a banking license or authorization beyond the scope of MiCA, and should not be interpreted as an endorsement or guarantee by any supervisory authority.

All content, trademarks, and materials on this website are the property of Penning Group ApS. Services are governed by Danish law, with disputes subject to the exclusive jurisdiction of the courts of Copenhagen, Denmark. For details on how we handle your personal data, see our Privacy Policy.