The spread of the coronavirus and its impact on the global economy drove a significant uptick in trading volume on OTC Markets, according to data from OTC Markets Group.
With investors concerned about the implications of a global pandemic, over $31 billion worth of shares traded on OTC Markets in February, a 63% increase from January. That made February the most heavily traded month for over-the-counter securities since January 2019.
The most-traded securities on the OTCQX Best Market—the top tier of OTC Markets— were the Grayscale Bitcoin Trust (otcqx:GBTC) and Roche Holding (otcqx:RHHBY), which saw nearly $2.5 million worth of shares traded between them.
An increase in cryptocurrency volume seemed to be a theme during the month. GBTC’s volume rose 38% in February, while the Grayscale Ethereum Classic Trust (otcqx:ETCG) and Grayscale Ethereum Trust (otcqx:ETHE) saw their volume increase 145% and 621% respectively. Computer Services, Inc. (otcqx:CSVI) (up 236%), Royal DSM NV (otcqx:RDSMY) (up 143%) and AXA (otcqx:AXAHY) (up 127%) also saw significant volume gains in February.
On the OTCQB Venture Market, three securities that saw the biggest month-over-month volume gains were TOMI Environmental Solutions, Inc. (otcqb:TOMZ), Franchise Holdings International, Inc. (otcqb:FNHI), and Hornbeck Offshore Services, Inc. (otcqb:HOSS).
To date, Fannie Mae (otcqb:FNMA), Freddie Mac (otcqb:FMCC), and CytoDyn (otcqb:CYDY) are the most active securities on the market, both surpassing $100 million in volume this year.
Below is a list of the 10 most active securities on the OTCQX and OTCQB Markets in February.
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