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May 2021 saw a $61.4 billion-dollar (total) volume in OTC Markets trading and was another month dominated by cryptocurrency-related news, which is reflected in the most active OTCQX & OTCQB securities for May.
Crypto Sell-Off – Drives Volumes
Cryptocurrencies faced heavy selling pressure in May possibly due to fears surrounding China’s digital-asset policy. This drove strong volume in crypto-related securities that are traded on the OTC Markets.
The Grayscale Bitcoin Trust (OTCQX:GBTC) saw the most dollar volume again at $8.4 billion in May, which was driven by a massive selloff in Bitcoin (BTC) during the month.
The Grayscale Ethereum Trust (OTCQX:ETHE) took the No. 2 spot with $8.2 billion dollar volume in May, which is over double the volume from April. As all major cryptocurrencies faced a sharp correction, this security saw a 139% increase in volume.
The Grayscale Ethereum Classic Trust (OTCQX:ETCG) also saw a heavy uptick in volume, with a 393% change in April dollar volume to $1.4 billion.
European Securities Moving
Several European securities saw strong volume in May, including Switzerland-based Roche Holding Ltd (OTCQX:RHHBY, RHHBF, RHHVF)), French banking group BNP Paribas (OTCQX:BNPQY, BNPQF)) and German sneakers and apparel company