Assets Under Management AUM

Institutional change? For the first time ever, Grayscale’s best crypto investment product isn’t the Bitcoin Trust

New research from a digital asset analysis firm reveals that institutional investors are moving away from Grayscale’s Bitcoin Trust (GBTC) in favor of another crypto asset trading product.

According to a CryptoCompare report, Grayscale’s Ethereum Trust (ETHE) recorded more daily transaction volumes in September than GBTC for the first time in history.

Grayscale’s Ethereum Trust (ETHE) was the top-traded digital asset product in September – with average daily volumes increasing 29.0% to $ 250 million (42.4% market share) – dethroning for Grayscale’s first Bitcoin Trust (GBTC). “

The study also highlights that total assets under management (AUM) in Bitcoin-based products fell to new lows in September as Ethereum’s market share peaked as investors diversified their crypto portfolio. .

“AUMs for Bitcoin-based products fell 7.8% in September to $ 35.1 billion (67.9% of current total AUM – the lowest share this year since April at 78.3%) . On the other hand, Ethereum-based products reached their highest AUM market share at 25.9%, after falling 3.0% to $ 13.5 billion.

This move suggests that investors are looking for alternatives to Bitcoin for cryptocurrency exposure. “

Although Grayscale’s Bitcoin products saw a decline in AUM terms last month, CryptoCompare notes that average weekly net entries turned positive last month after going through a three-month downtrend.

Average weekly net inflows were positive in September, with inflows averaging $ 72.8 million, breaking a three-month trend of outflows (- $ 59.9 million in June, – $ 12.1 million in June). in July and $ 0.6 million in August). “

You can download the full report here.

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