Report Shows Ethereum, Litecoin, Solana ETPs Outperformed Bitcoin Investment Products in November

Report Shows Ethereum, Litecoin, Solana ETPs Outperformed Bitcoin Investment Products in November

Report Shows Ethereum, Litecoin, Solana ETPs Outperformed Bitcoin Investment Products in November

Cryptocompare, the agency that gives institutional and retail traders with real-time and historic cryptocurrency knowledge, has revealed the agency’s November 2021 Digital Asset Management Review. The report covers crypto exchange-traded merchandise (ETPs), and up to date findings present various crypto asset funding merchandise are outperforming Bitcoin ETPs.

Ethereum-Based Investment Product Trade Volumes Increase

Every month Cryptocompare publishes a analysis report that covers the cryptocurrency funding product panorama. The funding merchandise are ETPs tethered to at present’s high crypto property globally reminiscent of Grayscale’s GBTC and ETHE funds. Cryptocompare’s Digital Asset Management Review November report explains that ETPs tied to ethereum (ETH), litecoin (LTC), and solana (SOL) noticed higher returns throughout a 30-day time-frame ending on November 19.

“The majority of AUM for belief merchandise continues to reside in Grayscale’s Bitcoin (GBTC – $38.1bn – down 10.1% since October) and Ethereum (ETHE – $12.9bn– up 3.6%) merchandise,” Cryptocompare’s report discloses. “ETC Group’s BTCE product regained the place of highest AUM ETN/ETF product with a acquire of 1.2% to $1.5bn. This was adopted by Purpose’s Bitcoin ETF (BTCC) and 3iQ Coinshares’ Bitcoin ETF (BTCQ) which fell 6.5% and 10.1% to $1.4bn and $1.2bn respectively,” the Cryptocompare researchers add.

Aggregate of Crypto-Based ETP Daily Trade Volumes Slid by 13% — Litecoin and Solana ETPs Outperform Bitcoin Investment Products

The analysis highlights that total, crypto-based ETP each day volumes slid by 13% however common ETH-based ETP quantity rose. “Average each day buying and selling volumes throughout all digital asset funding product sorts fell by a mean of 13% from October to $732mn/day,” the examine highlights. Cryptocompare’s report notes that Bitcoin-based funding merchandise “carried out poorly,” whereas LTC and SOL-based ETPs did effectively. Grayscale’s basket fund which comprises among the largest market cap cash returned -15.5%, Cryptocompare detailed.

“BTC-based funding merchandise typically noticed unfavourable returns in November, led by ETC Group’s BTCE product which returned -13.1%. Similarly, Grayscale’s GBTC belief returned -10.2%,” Cryptocompare’s November examine explains. “The finest performing funding product was Valour’s BTCZERO product, which returned -6.6%. On the opposite hand, various coins-based merchandise noticed constructive returns all through the month, led by 21Shares’ ASOL (Solana-based product) and Grayscale’s LTCN (Litecoin-based product), which returned 22.0% and 14.9% respectively,” Cryptocompare’s report concludes.

What do you consider the bitcoin funding merchandise’ performances in comparison with various crypto asset ETP market performances? Let us know what you consider this topic within the feedback part beneath.

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