{"id":277643,"date":"2020-11-18T08:56:56","date_gmt":"2020-11-18T13:56:56","guid":{"rendered":"https:\/\/insidebitcoins.com\/?p=277643"},"modified":"2020-11-18T08:56:56","modified_gmt":"2020-11-18T13:56:56","slug":"bitcoin-etp-sees-50-surge-in-volume-as-institutions-boost-rally","status":"publish","type":"post","link":"https:\/\/insidebitcoins.com\/news\/bitcoin-etp-sees-50-surge-in-volume-as-institutions-boost-rally","title":{"rendered":"Bitcoin ETP Sees 50% Surge In Volume As Institutions Boost Rally"},"content":{"rendered":"

CryptoCompare, a crypto research firm, has recently shown<\/a> that the volumes for institution-level exchange-traded products (ETPs) have seen a massive surge in volume.<\/p>\n

CryptoCompare Recording Massive Institutional Influx<\/h2>\n

The report investigates some of the reasons behind the epic bull run that Bitcoin has recently experienced. As it stands now, BTC is trading for just over $18,200, a new high for 2020. According to CryptoCompare, this is primarily due to the institutional players driving the momentum forward.<\/p>\n

CryptoCompare sent out the Digital Asset Management Review, which concluded that the aggregate volumes for ETPs had seen a surge of 53% within the span of 30 days.<\/p>\n

As it stands now, this same review discovered an average daily volume (ADV) of $173.5 million, which is significantly more than October\u2019s $113 million. It should be noted that ETPs are securities that, in turn, track an underlying index, security, or financial instrument. In BTC ETP\u2019s case, it tracks Bitcoin<\/a>, as the name suggests.<\/p>\n

\"Bitstamp<\/a><\/p>\n

Grayscale Gaining Incredibly<\/h2>\n

In the report, CryptoCompare cites the Bitcoin Trust of Grayscale<\/a>, which stands as one of the key drivers in this bullish rise in momentum. Grayscale boasts more than $9 billion in assets under management, but these numbers could be outdated. On the 18th of November, 2020.<\/p>\n

Grayscale posted that it had hit the $10 billion milestones when it came to assets under management. The firm proudly boasts of holding over half a million Bitcoin, as well.<\/p>\n

The Ethereum trust product of Grayscale, referred to as ETHE, boasts $1.7 billion in assets under management. This stands at 40% more than it used to be 30 days prior.<\/p>\n

Not even Litecoin has escaped the institutional fund manager, as it boasts $58 million in Litecoin under management as well. The Bitcoin Cash Trust of Grayscale boasts $46 million, just shy of Litecoin, though it\u2019s probable that this will only change in time.<\/p>\n

Many Other Institutions Increasing BTC Under Management<\/h2>\n

The Bitcoin Fund of 3iQ, the report noted, had also experienced higher levels of returns within these past 30 days, recording it at just over 49%. As it stands now, 3iQ is the leading crypto asset fund manager for Canada.<\/p>\n

Another institutional player, ETC Group, saw its BTCE product increase in AUM by the largest percentage, going up by 93% within just 30 days. Now, the BTCE product stands valued at $116 million. BTCE saw a massive rise in volumes, as well, with average volumes tripling in November. The firm\u2019s November average stands at $8.87 million a day, which is more than 200% higher than October\u2019s.<\/p>\n

The BTCW product, this one from WisdomTree, saw a 65% increase to its AUM, in turn, and now stands valued at $79 million.<\/p>\n","protected":false},"excerpt":{"rendered":"

CryptoCompare, a crypto research firm, has recently shown that the volumes for institution-level exchange-traded products (ETPs) have seen a massive surge in volume. CryptoCompare Recording […]<\/a><\/div>","protected":false},"author":1717,"featured_media":274673,"comment_status":"open","ping_status":"closed","sticky":false,"template":"","format":"standard","meta":{"_acf_changed":false,"inline_featured_image":false,"footnotes":""},"categories":[7596],"tags":[734,5319,7598,8376,7599,7893],"class_list":["post-277643","post","type-post","status-publish","format-standard","has-post-thumbnail","hentry","category-cryptocurrency","tag-bitcoin","tag-btc","tag-crypto","tag-grayscale","tag-market","tag-trading"],"acf":[],"yoast_head":"\nBitcoin ETP Sees 50% Surge In Volume As Institutions Boost Rally<\/title>\n<meta name=\"description\" content=\"In turn, track an underlying index, security, or financial instrument. 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