{"id":6285,"date":"2023-10-28T05:44:25","date_gmt":"2023-10-28T05:44:25","guid":{"rendered":"https:\/\/infundpros.com\/markets\/crypto\/bitcoin-products-dominate-73-3-of-market-share-as-crypto-assets-under-management-grows-to-31-7-billion\/"},"modified":"2023-10-28T05:44:26","modified_gmt":"2023-10-28T05:44:26","slug":"bitcoin-products-dominate-73-3-of-market-share-as-crypto-assets-under-management-grows-to-31-7-billion","status":"publish","type":"post","link":"https:\/\/infundpros.com\/?p=6285","title":{"rendered":"Bitcoin Products Dominate 73.3% of Market Share as Crypto Assets Under Management Grows to $31.7 Billion"},"content":{"rendered":"<div>\n<figure id=\"attachment_122154\" aria-describedby=\"caption-attachment-122154\" style=\"width: 1280px\" class=\"wp-caption alignnone\"><noscript><\/noscript><figcaption id=\"caption-attachment-122154\" class=\"wp-caption-text\">Source: Adobe \/ Luisa<\/figcaption><\/figure>\n<p>Digital assets under management have soared by 6.74% to $31.7 billion after a string of positive developments amid wider market uncertainties.<\/p>\n<p>A new market report released by CCData shows growth in crypto-related products, key activities, and a review of trading activities in the wake of plunging CEX volumes among others.<\/p>\n<p>The biggest gainer last month remains Bitcoin (BTC) after the market leader rallied to a 16-month high trading over $35,000 before making a slight price correction.<\/p>\n<p>BTC products market share grew by 73% this month, a better performance from its 70% rise in September. Total Bitcoin products now stand at $23 billion after notching an 11% growth.<\/p>\n<p>On the other hand, leading altcoin Ethereum (ETH) related products declined in market share by about 2% this month with its products valued at $6.3 billion. It was also the only major altcoin to record outflows last week.<\/p>\n<p>Ethereum products have recorded low figures in recent weeks despite the launch of futures ETF products which several investors saw as a boost to attract a new cycle of growth.<\/p>\n<p>Multi-asset production grew by 2.1% to $1.1 billion controlling 3.75% of the market share.\n<\/p>\n<h2>Anticipation of spot Bitcoin ETF<\/h2>\n<p>\nThe data cited the renewed anticipation of a spot BTC ETF and institutional demand as the reasons for a rise in the price of Bitcoin and the overall growth of related products among institutional investors.<\/p>\n<blockquote class=\"twitter-tweet\" data-width=\"550\" data-dnt=\"true\">\n<p lang=\"en\" dir=\"ltr\">\ud83d\udcab Galaxy Digital Projects Bitcoin Price to Reach Near $60,000 Year After Spot ETF Approval<\/p>\n<p>Galaxy Digital views the approval of a spot Bitcoin ETF as \u201cthe most impactful catalysts\u201d towards the growth and adoption of the top digital asset.<a rel=\"nofollow\" href=\"https:\/\/twitter.com\/hashtag\/CryptoNews?src=hash&amp;ref_src=twsrc%5Etfw\">#CryptoNews<\/a>https:\/\/t.co\/psPDooUyx5<\/p>\n<p>\u2014 Cryptonews.com (@cryptonews) <a rel=\"nofollow\" href=\"https:\/\/twitter.com\/cryptonews\/status\/1717111331264843874?ref_src=twsrc%5Etfw\">October 25, 2023<\/a><\/p>\n<\/blockquote>\n<p>A recent CoinShares report released last week showed a significant increase around BTC products as the asset products recorded 84% of the total market capitalization bringing the total yearly inflow to $315 million.<\/p>\n<blockquote class=\"twitter-tweet\" data-width=\"550\" data-dnt=\"true\">\n<p lang=\"en\" dir=\"ltr\">\ud83d\udcca\ud83d\udd25 Spot Bitcoin ETF Hype Rally Weekly Inflows To $66 Million, Investors Remain Bullish on Solana: Report<\/p>\n<p>Digital asset investment products notched a fourth week of consecutive inflow, with Bitcoin recording $55.3 million.<a rel=\"nofollow\" href=\"https:\/\/twitter.com\/hashtag\/CryptoNews?src=hash&amp;ref_src=twsrc%5Etfw\">#CryptoNews<\/a> <a rel=\"nofollow\" href=\"https:\/\/twitter.com\/hashtag\/Bitcoin?src=hash&amp;ref_src=twsrc%5Etfw\">#Bitcoin<\/a>https:\/\/t.co\/4qMaXO0p81<\/p>\n<p>\u2014 Cryptonews.com (@cryptonews) <a rel=\"nofollow\" href=\"https:\/\/twitter.com\/cryptonews\/status\/1716759975828095047?ref_src=twsrc%5Etfw\">October 24, 2023<\/a><\/p>\n<\/blockquote>\n<p>As several large investment firms prepare for a possible ETF, analysts have predicted growth should the Securities and Exchange Commission approve an application.<\/p>\n<p>In June, the application of BlackRock and other top firms occasioned a price rally of over $31,000 although the Commission continues to stall an approval citing market manipulation concerns.\n<\/p>\n<blockquote>\n<p>\u201c<i>These events, among others, have ignited investor sentiment and raised hopes for the imminent approval of the first spot Bitcoin ETF.\u201d\u00a0<\/i><\/p>\n<\/blockquote>\n<h2>Solana\u2019s bullish sentiment remains strong<\/h2>\n<p>\nSolana (SOL) has been described as the most loved altcoin by institutional investors this year after a string of consecutive weekly inflows. SOL products notched the highest AUM increase by 74.1% to $140 million.<\/p>\n<p>This month, the community dubbed ETH killer increased its consecutive inflow to 27 weeks and recorded its highest total value locked (TVL) of $338.2 million across decentralized application platforms.<\/p>\n<p>In terms of jurisdiction, Canada recorded the highest growth, posting an increase in AUM to $2.03 billion while Germany\u2019s ranked second with a 16% growth to $698 million.<\/p>\n<div class=\"newsletter home-newsletter single\">\n<div class=\"left-side\">\n<p>\n        <em><br \/>\n            Enter your email for our Free Daily Newsletter        <\/em>\n    <\/p>\n<p> A quick 3min read about today&#8217;s crypto news!<\/p>\n<p>    <span class=\"response-msg\" id=\"newsletter-response\"><\/span>\n<\/div>\n<\/p><\/div>\n<\/p><\/div>\n<p><script async src=\"\/\/platform.twitter.com\/widgets.js\" charset=\"utf-8\"><\/script><br \/>\n<br \/>Read the full article <a 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