Trading volume of Bitwise 10 Crypto Index Fund shares surpassed the Grayscale Ethereum Trust on the OTCQX over-the-counter market. This occurred on the second day after listing of the financial instruments under the ticker BITW.
By December 10, the trading volume of BITW reached $33.16 million. This was more than $2 million higher than ETHE’s figure.
The Bitwise 10 Crypto Index Fund’s assets under management stand at $115 million. Previously the instrument could be purchased only through private placement at net asset value.
For comparison, Grayscale Ethereum Trust’s assets under management exceed $1.6 billion. The company’s total assets under management stand at $12.2 billion.
12/10/20 UPDATE: Net Assets Under Management, Holdings per Share, and Market Price per Share for our Investment Products.
Total AUM: $12.2 billion$BTC $BCH $ETH $ETC $ZEN $LTC $XLM $XRP $ZEC pic.twitter.com/fFWjzJX529
— Grayscale (@Grayscale) December 10, 2020
The Bitwise 10 Crypto Fund mirrors the dynamics of the Bitwise 10 Large Cap Crypto Index. The latter is a basket of the largest cryptocurrencies by market capitalization, rebalanced monthly.
Portfolio of Bitwise 10 Crypto Fund assets as of December 10, 2020. Data: Bitwise Investments.
On OTCQX, shares of about 11,000 large U.S. and international companies that meet high financial standards, U.S. law, and best-practice corporate governance trade, but do not wish to meet all SEC disclosure requirements. The market also features Grayscale Investments’ Bitcoin Trust (GBTC).
Earlier Grayscale Investments announced a 9-for-1 stock split of the Ethereum Trust (ETHE).
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