01
OTC block execution
Principal-to-principal across BTC, ETH, USDC, USDT and select L1s. No splitting across venues.
Funds need liquidity that doesn't move the market and execution that doesn't get front-run. We quote as principal — meaning we take the other side of your trade against our own book, not against a venue order book. Custodian-to-custodian settlement means your assets never leave qualified custody during execution. Post-trade reporting on every ticket, formatted for your prime broker reconciliation.
02 / TYPICAL FLOWS
What funds
typically need.
02
Custodian-to-custodian settlement
T+0 on both legs. Your custody provider holds, we route. Assets never sit on our balance sheet.
03
Prime-of-prime relationships
If you already have a trading book with us, your ops desk reconciles against ours directly.
04
Post-trade reporting
Every ticket comes with documented execution detail. Formatted for prime broker reconciliation.
03 / ENTITY ROUTING
Where funds
typically onboard.
Final entity selection is confirmed on the intro call — it depends on your specific domicile, structure and use case. Below are the entities most common for this profile.
GOAT SAGL
Switzerland
Swiss-domiciled funds and European fund vehicles with HQ in DACH/CEE.
GOAT SIA
Latvia
EU-domiciled funds — once MiCA authorization is granted, EU passport applies.
GOAT LLC
United States
US-registered investment advisers and Cayman vehicles trading USD-denominated.
04 / RECOMMENDED PRICING
Most funds land on
Prime.
Funds running $50M+ monthly land on the Prime tier with custom spread pricing and dedicated 24/7 desk access. Smaller funds onboard under Institutional.
See pricing tiers05 / WHAT TO EXPECT
Onboarding, candidly.
- 01 Fund KYC: certificate of incorporation/formation, PPM, audited financials, AIFMD or equivalent registration.
- 02 Identification of all investors above the relevant threshold per jurisdiction.
- 03 Custodian-to-custodian settlement requires your custody provider to be on our approved list (most majors are).
- 04 API access available for systematic strategies on the Institutional and Prime tiers.
06 / OTHER CLIENT TYPES