- The upcoming Merge on ETH network boosts investments products and trading volumes.
- Amid the bearish phase of crypto, AUM figures continue to fall.
A global leader in digital asset data providing organisation, CryptoCompare, published August 2022, digital asset management report. In the report the organisation showed that the ETH products raised by 2.36% to $6.81 billion in asset under management (AUM) in August. While the products of BTC dropped by 7.16% to $17.4 billion.
CryptoCompare Report Analysis
According to the reports, since 2021, GBTC performed as the most traded trust product. But this was the first time, when the Grayscale’s Bitcoin trust product (GBTC) lose its position. Its average daily volume totaled down with 24.4% to $42.3 million.
Unlike, the Ethereum trust of Grayscale leads with an average daily volume up 23.2% to $48.7 million. The affect on Bitcoin products as 3iQs (QBTC) also noted down in its average daily volume by 55.2% to $462k. Also, the other BTC based trust products also noted the average daily volume drop in August. While most of the ETH based products performed vice-versa.
The above chart shows total AUM across all digital asset investment products. It dropped by 4% to $25.8 billion till 23 August 2022.
Bitcoin AUM dropped by 7.16% to $17.4 billion in August, hence its market share also noted the drop by 67.6% of total AUM from 76.9% in July. On the other hand, the AUM of Ethereum rose by 2.36% to $6.81 billion, and ‘Other’ and ‘Baskets’ AUM also noted 12.3% hike to $1.13 billion and drop by 2.78% to $393 million, respectively.
The Ethereum products now gained a total AUM of 26.5% with the largest market share since the starting of this year.
Source: https://www.thecoinrepublic.com/2022/08/31/cryptocompare-report-shows-the-growth-of-eth-products-in-august/