Swiss Bitcoin ETP titled "HODL ETP" sees record volume from institutional investors

posted 3 months ago
The recently launched Bitcoin ETP on the SIX Swiss Stock Exchange has seen relatively high volume, suggesting that institutional investors are may be buying the dip. Last Thursday and Friday, the ETP saw record trading volumes with 53,233 shares and 62,986 shares traded, respectively. This is a serious increase from the one-month average volume that saw around 20,000 shares traded per day and coincides with a steep decline in Bitcoin price at the end of last week.

According to Su Zhu, CEO at FX Hedge Fund, the “correlation between volume and price continues to be very strong at -68%." In other words, the ETP’s trading volume increases as BTC price dips.
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