Photo by Karsten Winegeart on Unsplash
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 adidas AG (OTCQX:ADDYY, ADDDF)), with the latter seeing a 96% increase in volume.
Cannabis Securities Round Out the Top 10 Most Active
Cannabis securities were also active in May as widespread legalization gained ground with two Republican congressmen introducing a bill for federal legalization. Trulieve Cannabis Corporation (OTCQX:TCNNF), Green Thumb Industries Inc. (OTCQX:GTBIF), Curaleaf Hldngs Inc. (OTCQX:CURLF) and Cresco Labs Inc. (OTCQX:CRLBF) all making the Top 10 for May dollar volume.
OTCQB
In the OTCQB Venture Market, Voyager Digital Ltd. (OTCQB:VYGVF) took the top spot yet again with $377 million in dollar volume, which was down from last month. The crypto platform provider dealt with massive trading volumes during the market volatility during May.
Rounding out the Top 10 was Digihost Technology Inc. (OTCQB:HSSHF). This growth-oriented blockchain technology company is primarily focused on Bitcoin (BTC) mining and saw its volumes increase in May.
Crimson Wine Group Ltd. (OTCQB:CWGL) and Oroco Resource Corp. (OTCQB:ORRCF) also stood out with increases in dollar volume.
Below are the 10 most actively traded securities on the OTCQX and OTCQB markets in May:
OTCQX
| Company Name | Symbol | Country | May Dollar Volume |
| Grayscale Bitcoin Trust (BTC) | GBTC | USA | $8,390,887,292 |
| Grayscale Ethereum Trust (ETH) | ETHE | USA | $8,233,493,202 |
| Grayscale Ethereum Classic Trust (ETC) | ETCG | USA | $1,454,981,534 |
| Roche Holding Ltd | RHHBY | Switzerland | $1,087,826,439 |
| BNP Paribas | BNPQY | France | $440,977,544 |
| adidas AG | ADDYY | Germany | $319,594,919 |
| Trulieve Cannabis Corporation | TCNNF | USA | $225,076,226 |
| Green Thumb Industries Inc. | GTBIF | USA | $207,063,477 |
| Curaleaf Hldgs Inc. | CURLF | USA | $199,262,353 |
| Cresco Labs Inc. | CRLBF | USA | $164,082,424 |
OTCQB
| Company Name | Symbol | Country | May Dollar Volume |
| Voyager Digital Ltd. | VYGVF | USA | $377,355,973 |
| American Battery Metals Corporation | ABML | USA | $166,001,213 |
| CytoDyn Inc. | CYDY | USA | $162,545,324 |
| Fannie Mae | FNMA | USA | $118,301,466 |
| Northwest Biotherapeutics, Inc. | NWBO | USA | $77,288,323 |
| Alpine 4 Holdings Inc. | ALPP | USA | $47,419,060 |
| Jushi Holdings Inc. | JUSHF | USA | $45,255,438 |
| High Tide Inc. | HITID | Canada | $37,383,699 |
| Freddie Mac | FMCC | USA | $37,233,043 |
| DIGIHOST TECHNOLOGY INC. | HSSHF | Canada | $28,361,911 |