Cryptocompare, the company that provides institutional and retail investors with real-time and historical cryptocurrency data, released the company’s digital asset management review in November 2021. The report covers exchange-traded products ( Crypto ETPs and recent results show that alternative crypto asset investment products outperform Bitcoin ETPs.
Increased trading volumes of Ethereum-based investment products
Each month, Cryptocompare publishes a research report that covers the landscape of cryptocurrency investment products. Investment products are ETPs linked to today’s major crypto assets around the world, such as Grayscale’s GBTC and ETHE funds. Cryptocompare’s Digital Asset Management Review November Report Says ETPs Linked to Ethereum (ETH), Litecoin (LTC), and Solana (SOL) have performed better over a period of time. 30 days ending November 19.
“The majority of AUMs for Trusted Products continue to reside in Grayscale’s Bitcoin (GBTC – $ 38.1 billion – down 10.1% from October) and Ethereum (ETHE – $ 12.9 billion) products. – up 3.6%) “, reveals the Cryptocompare report. “ETC Group’s BTCE product regained the top AUM ETN / ETF product position with a gain of 1.2% to $ 1.5 billion. This was followed by Purpose’s Bitcoin ETF (BTCC) and 3iQ Coinshares Bitcoin ETF (BTCQ), which fell 6.5% and 10.1% to $ 1.4 billion and 1.2 billion. billion dollars respectively ”, add the researchers of Cryptocompare.
Crypto-Based ETP Daily Trading Volume Aggregate Decreased 13% – Litecoin and Solana ETPs Outperform Bitcoin Investment Products
Research highlights that overall, daily crypto-based ETP volumes have decreased by 13%, but popular ETH-based ETP volume has increased. “Average daily transaction volumes on all types of digital asset investment products fell an average of 13% between October and $ 732 million per day,” the study said. The Cryptocompare report notes that Bitcoin-based investment products “performed poorly,” while LTC and SOL-based ETPs performed well. Grayscale’s basket, which contains some of the biggest market cap coins, returned -15.5%, Cryptocompare detailed.
“BTC-based investment products generally recorded negative returns in November, led by ETC Group’s BTCE product which returned -13.1%. Likewise, Grayscale’s GBTC trust returned -10.2%, ”explains Cryptocompare’s November study. “The best performing investment product was Valor’s BTCZERO product, which returned -6.6%. On the flip side, alternative coin products saw positive returns throughout the month, led by ASOL from 21Shares (product based on Solana) and LTCN from Grayscale (product based on Litecoin), which respectively reported 22.0% and 14.9% ”, reports Cryptocompare. concludes.
How do you feel about the performance of bitcoin investment products compared to the performance of the ETP market for alternative crypto assets? Let us know what you think of this topic in the comments section below.
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