Dec 10, 2020 13:17 GMTCrypto News
Bitwise has listed its cryptocurrency fund on the OTC market.
Over 465,000 shares were sold during the first trading day.
Bitwise Asset Management listed its crypto index fund Bitwise 10 Crypto on the over-the-counter (OTC) market OTCQX. Over 14 million shares were sold on the first trading day.
A successful start for BITW
The fund has about $120 million in assets under management. It is available under ticker BITW, allowing investors to trade them through traditional brokerage accounts. The listing was approved by the Financial Industry Regulatory Authority (FINRA).
The cryptocurrency data provider Skew reports that over 465,000 shares worth over $14 million were traded during the first day, reflecting an enormous demand for the product from institutional investors. As FXStreet previously reported, Fidelity recently launched crypto-backed loans to satisfy the growing needs of large investors.