Three of the top five assets on the leading U.S. over-the-counter (OTC) market are crypto shares.
Share this article
Trading volumes for Grayscale’s Bitcoin and Ethereum shares and Bitwise’s 10 Crypto Index Fund surpass traditional stocks on top U.S. OTC markets.
Traders Scoop Crypto on OTC Markets
OTC Markets Group Inc. shares trade on leading brokerage desks like Fidelity, Schwab, E*Trade, and TD Ameritrade.
The OTC Markets Group Inc. is the operator of the largest OTC markets in the U.S. It trades in over 11,000 different securities.
Grayscale’s Bitcoin Trust (GBTC) ranks on the top of the list with over $250 million in trading volume.
The number three asset, Bitwise’s crypto index, was launched only two days ago. Since then, the fund has reported higher volumes than Grayscale’s Ethereum Trust (ETHE).
List of active markets on OTCQX. Source: OTC Markets
Stocks that trade on OTC markets represent smaller or foreign companies and commodities. These usually fail to obtain a listing on mainstream exchanges like the New York Stock Exchange (NYSE) or NASDAQ.
The daily volume on the OTC market is $2.3 billion. In comparison, the daily volume on NASDAQ ranges around $200 billion.
The crypto shares are trading at a significant premium (up to 3,000%) over the net asset value (NAV) of the cryptocurrencies they represent. The premiums act as a proxy for the hyped retail interest in these shares.
It would now appear that traditional investors are joining.
Share this article
The information on or accessed through this website is obtained from independent sources we believe to be accurate and reliable, but Decentral Media, Inc. makes no representation or warranty as to the timeliness, completeness, or accuracy of any information on or accessed through this website. Decentral Media, Inc. is not an investment advisor. We do not give personalized investment advice or other financial advice. The information on this website is subject to change without notice. Some or all of the information on this website may become outdated, or it may be or become incomplete or inaccurate. We may, but are not obligated to, update any outdated, incomplete, or inaccurate information.
You should never make an investment decision on an ICO, IEO, or other investment based on the information on this website, and you should never interpret or otherwise rely on any of the information on this website as investment advice. We strongly recommend that you consult a licensed investment advisor or other qualified financial professional if you are seeking investment advice on an ICO, IEO, or other investment. We do not accept compensation in any form for analyzing or reporting on any ICO, IEO, cryptocurrency, currency, tokenized sales, securities, or commodities.
Crypto investment firm Grayscale has announced a share split of its Ethereum Trust Fund (ETHE), offering eight additional shares for each share currently held by shareholders. Split Will Occur in...
Bitcoin and Ethereum Face the Bears in Short-Term Correction
Bitcoin and Ethereum fell dramatically in the past 24 hours. Though prices have returned to pre-crash levels, multiple technical indicators suggest the worst is yet to come. Mt. Gox Still...
What is Impermanent Loss and How can you avoid it?
DeFi has given traders and investors new opportunities to earn on their crypto holdings. One of these ways is by providing liquidity to the Automated Market Makers (AMMs). Instead of holding assets,...
Bitwise Joins Grayscale, Launches Crypto Index for Institutions
Bitwise announced its crypto index on professional trading desks such as Fidelity and TD Ameritrade for institutional traders. Bitwise’s Soft Crypto ETF Bitwise grabbed headlines last year with a Bitcoin...
