Cryptocurrencies: Stylized facts on a new investible instrument

【Author】 Hu, Albert S.; Parlour, Christine A.; Rajan, Uday

【Source】FINANCIAL MANAGEMENT

【影响因子】3.391

【Abstract】We present stylized facts on the asset pricing properties of cryptocurrencies: summary statistics on cryptocurrency return properties and measures of common variation for secondary market returns on 222 digital coins. In our sample, secondary market returns of all other currencies are strongly correlated with Bitcoin returns. We also provide some investment characteristics of a sample of 64 initial coin offerings.

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【发表时间】2019 DEC

【收录时间】2022-01-02

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