The Bitwise Bitcoin Fund was first launched in 2018, with a minimum investment of $ 10,000. Listing on OTCQX means that any investor with a brokerage account can trade in the fund’s stock.
Bitwise Asset Management has begun the process of listing its Bitcoin Fund shares on OTCQX, the largest OTC market in the United States. The US digital asset management company Bitwise has officially begun trading its Bitcoin Fund shares on the US retail market.
The Bitwise Bitcoin Fund is a rival of the Bitcoin Grayscale fund. The Bitwise Bitcoin Fund charges 1.5% lower fees than Grayscale’s 2%. However, the lower cost doesn’t seem that important. But for Bitwise’s chief investment officer, cost is quite important to Bitwise’s clients, more specifically financial advisors. “Financial advisors are often obliged to act on behalf of their clients fiduciary to report the fees of their investments on their statement, so for them the fees are also quite sensitive,” he said. .
Listing on top US OTC market will potentially allow assets to be traded on brokers such as Fidelity, Schwab, E * Trade and TD Ameritrade.