NEW DELHI: The Digital Asset Management Review was published by Cryptocompare on November 25. The firm provides institutional and retail investors with real-time and historical cryptocurrency
In its entirety, the report talks about the crypto exchange-traded products (ETPs), where it is seen that alternative crypto asset investment products are outperforming Bitcoin
The report concluded the following facts about the rising alternative crypto assets besides Bitcoin:
* The trade volume of Ethereum-based investment products has increased.
* The research disclosed that overall, crypto-based ETP daily volumes went down by 13 percent but popular ETH-based ETP volume increased.
– Average daily trading volume for all the digital asset investment product types fell by October to $732mn/day.
and Solana ETPs performed better than Bitcoin investment products at 22 and 14.9 per cent respectively.
* Bitcoin-based investment products performed abysmally.
* Bitcoin-based investment products yielded negative returns in November as is evident:
– ETC Group’s BTCE product returned the lowest at -13.1 per cent.
– ETC was followed by Grayscale’s GBTC trust which returned merely -10.2 per cent.
– Among BTC- based ETFs, Valour’s BTCZERO product returned the maximum at -6.6 per cent.
* The investment products are ETPs tethered to the current top global crypto assets such as Grayscale’s GBTC and ETHE funds.
* The ETPs that are tied to ethereum
(ETH), litecoin (LTC), and solana (SOL) gained better during a period of 30 days, ending on November 19.
* The maximum asset under management (AUM) among trust products, continued to be in Grayscale’s Bitcoin (GBTC at $38.1billion, down at 10.1 per cent since October).
* Average daily trading volumes across digital investment products went down to an average of 13 per cent.
* Ethereum (ETHE) was at $12.9 billion and up 3.6 per cent.
* ETC Group’s BTCE product restored its earlier position of highest AUM ETF product with a gain of 1.2 per cent to $1.5 billion.
– This was followed by Purpose’s Bitcoin ETF (BTCC) and 3iQ Coinshares’ Bitcoin ETF (BTCQ) which fell 6.5 per cent and 10.1 per cent to $1.4 billion and $1.2 billion respectively.
Cryptocompare publishes a monthly research report that covers the cryptocurrency investment product landscape. (For the latest crypto news and investment tips, follow our Cryptocurrency page and for live cryptocurrency price updates, click here.)