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HODLX Crypto basket is up more than 38% since late September debut
The noise around BITO and SEC's pending approvals of physically backed Bitcoin ETFs helped propel Bitcoin, Ethereum and other cryptocurrencies near or above their all-time highs.
By Rony Abboud
October 20, 2021
- Cryptocurrencies
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21 Shares Crypto Basket 10 ETP (HODLX), has been on a roll since its inception on September 28th, 2021, gaining more than 38%. The ETP invests in the top 10 largest crypto assets based on market capitalization and holds Bitcoin (64.25%), Ethereum (22.34%), Binance Coin (4.7%), Cardano (2.57%), XRP (2.21%), Polkadot (1.35%) among others.
HODLX rallied as U.S. Securities and Exchange Commission (SEC) softened its stance on cryptocurrencies by giving the green light for the first Bitcoin Futures ETF, the Proshares Bitcoin Strategy ETF (BITO) to trade on Tuesday. BITO has amassed over $1 billion in assets in just two days, ranking as the second-busiest debut on record. The noise around BITO and SEC's pending approvals of physically backed Bitcoin ETFs helped propel Bitcoin, Ethereum and other cryptocurrencies near or above their all-time highs.
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HODLX is one of multiple products giving exposure to a cryptocurrency or a basket of cryptocurrencies. It trades on the SIX Swiss Exchange and charges an expense ratio of 2.5%.
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