Asset Size of Bitcoin Funds Soars 11%: Report
According to CCData’s monthly report, total assets under management (AUM) for digital asset-based investment products have increased by 6.74% to $31.7 billion this month in response to positive market developments.
According to the company’s analysts, at the same time, the volume of Bitcoin fund assets has increased by 11.1% to $23.2 billion.
BTC-based instruments occupy 73.3% of the market, up from 70.5% in the previous month.
In the case of Ethereum, the figure has fallen by 5.45% to $6.35 billion, despite the recently launched ETFs based on this asset. Ethereum funds take up 20.1% of the sector.
The company analysts have noted:
“October has seen major developments in the digital asset space. To start, six ETH Futures ETFs commenced trading on the 2nd, giving investors exposure to ETH futures. Shortly after, Bitcoin’s price surged by 7.56% in less than an hour to a peak of $30,009 driven by rumours regarding the approval of BlackRock’s application.”
