The Betashares Crypto Innovators ETF (ASX: CRYP) commenced trading on the ASX on 4 November.
While it’s not the only new exchange traded fund (ETF) to debut on the ASX this year, CRYP made quite a splash as it was the first ETF to offer ASX investors exposure to the wild world of crypto related assets.
Now CRYP doesn’t invest directly into Bitcoin (CRYTPO: BTC), Ethereum (CRYPTO: ETH), or indeed any other altcoins.
Instead, it offers investors indirect exposure by investing in a basket of up to 50 assets (currently 32) composed of global companies closely linked to the “crypto economy”.
It’s top 5 holdings as of this morning are:
- Silvergate Capital Corp (12.8%)
- Marathon Digital Holdings Inc (10.6%)
- Galaxy Digital Holdings Ltd (10.2%)
- Coinbase Global Inc (10.2%)
- Microstrategy Incorporated (9.1%)
Investors can buy and sell shares in CRYP just like any other ASX listed shares. Do take note of BetaShares’ caution on their website, “CRYP should be considered very high risk.”
So, how has the ETF been tracking since its launch?
How did ASX investors respond to CRYP on its first day?
Investors were clearly eager to get into the action on the CRYP’s first day of trading.
Within 15 minutes of the opening bell, the ETF saw $8 million worth of trades. The crypto ETF ended the day with net buys of $39.7 million, breaking the record for first-day volume for a new fund, set by the Hyperion Global Growth Companies (ASX: HYGG) fund in March this year.
How has the ETF performed since launching?
In its first 4 days of trading, the CRYP share price gained 10.6%. In a sign of the ongoing volatility in cryptocurrencies and the companies that are correlated to them, the ETF then lost 9.1% over the next 2 days, closing at $1.24 per share on 11 November.
It’s been up and down since then, with more down than up leaving CRYP 8% below where it commenced trading on 4 November.