FTX Now Allows to Short or Long Grayscale’s GBTC & ETHE and Bitwise 10 Crypto Index (BITW)
This time, cryptocurrency derivatives exchange FTX has listed the stocks of crypto asset funds.
The world’s largest asset manager Grayscale Investment’s two popular products GBTC and ETHE are now available to trade on FTX. Both the products currently trade at 17% and 15% premium respectively on the secondary market.
Bitwise 10 Crypto Index (BITW), which has more than $500 million in assets is another fund listed by FTX. The price of Bitwise’s crypto fund shares jumped 369%, higher than the digital assets it holds which rallied over 300% last year.
GBTC/USD is trading at $34.9 with $4,052 volume, ETHE/USD at $12.4 with $2,214 in volume, and BITW/USD is trading at $54 with a volume of $2137 on FTX.
As the CEO Sam Bankman-Fried noted in a 2020 review, “FTX has built a reputation as an exchange that’s quick to roll out new products and features,” and the latest listings are just an addition to what the exchange has been doing since last year.
The exchange has tokenized the stocks like Tesla, Google, Amazon, and other hot ones to enable qualified traders to trade them 24 hours a day, 7 days a week, 365 days a year.