Institutional Shift? For the First Time Ever, Grayscale’s Top Crypto Investment Product Isn’t the Bitcoin Trust

A brand new research from a digital asset analytics agency is revealing that institutional traders are shifting away from Grayscale’s Bitcoin Trust (GBTC) in favor of one other crypto asset buying and selling product.

In response to a CryptoCompare report, Grayscale’s Ethereum Trust (ETHE) witnessed extra each day buying and selling volumes in September than GBTC for the first time in historical past.


“Grayscale’s Ethereum Trust (ETHE) was the most traded digital asset product in September – with common each day volumes growing 29.0% to $250 million (42.4% market share) – dethroning Grayscale’s Bitcoin Trust (GBTC) for the first time ever.”

The research additionally highlights that the whole belongings beneath administration (AUM) in Bitcoin-based merchandise fell to new lows in September whereas Ethereum’s market share peaked as traders diversify their crypto portfolio.

“AUM in Bitcoin-based merchandise fell 7.8% in September to $35.1 billion (67.9% of present whole AUM – the lowest share this yr since April at 78.3%). On the different hand, Ethereum-based merchandise reached their highest market share of AUM at 25.9%, following a 3.0% lower to $13.5 billion. 

This motion means that traders are in search of options to Bitcoin for cryptocurrency publicity.”

Though Grayscale’s Bitcoin-based merchandise noticed a decline when it comes to AUM final month, CryptoCompare notes that common weekly web inflows turned optimistic final month after going by a three-month downtrend.

“Common weekly web inflows had been optimistic in September as inflows averaged $72.8 million, breaking a three-month pattern of outflows (-$59.9 million in June, -$12.1 million in July, and $0.6 million in August).”

You’ll be able to obtain the full report here.

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