Bitcoin Products Dominate 73.3% of Market Share as Crypto Assets Under Management Grows to $31.7 Billion
Digital assets under management have soared by 6.74% to $31.7 billion after a string of positive developments amid wider market uncertainties.
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.
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.
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.
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.
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.
Multi-asset production grew by 2.1% to $1.1 billion controlling 3.75% of the market share.
The 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.
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