Cryptocurrencies
Bitwise Crypto Trust Jumps 72% Since Debut While Market Sags
- Firm says trust is first publicly traded index fund in U.S.
- Bitcoin accounts for about 75% of Bitwise index trust
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The Bitwise 10 Crypto Index Fund has vaulted more than 70% since its debut Wednesday, the latest sign of an insatiable appetite for risk assets in global financial markets.
The fund, which is listed under the ticker BITW, jumped about 23% to $44.75 on Friday, bringing gains since its over-the-counter trading kick-off to 72%. About 565,000 shares have changed hands daily on average over that period. Meanwhile, the Bloomberg Galaxy Crypto Index slipped about 3% during the same timespan.