Ethereum

Rose

Bitcoin

April

According to a survey released by CCData, assets under management (AUM) for cryptocurrency investment products increased for the fifth consecutive month in April, climbing by 6.94% to $35.6 billion. This year, they have experienced a 59.9% increase in their AUM. 
The increase highlights the resurgence of interest in digital assets brought on by the failings of conventional finance and market volatility. AUM for goods based on Bitcoin ($BTC) and Ethereum ($ETH) increased by 6.34% and 8.72%, respectively, totalling $24.2 billion for BTC and $7.85 billion for ETH-based products. 
According to the most recent Digital Asset Management Review report from CCData, the surge in ETH-based products came after the Shapella network update, which enabled investors to withdraw staked ETH, was successfully implemented. 
Despite a decline of 27.2% to $277 million in average daily aggregate product volumes in April across all digital asset investment products, the report notes that this amount is still high compared to average trading volumes recorded in 2022. After substantial outflows in March, net flows for BTC-based goods changed course and registered a positive net flow of $30.78 million. 
Despite the Shapella Upgrade’s increase in AUM for ETH-based products, BTC-based products still rule the digital asset market. While ETH-based products remained largely stable, with only a slight decline from 24.8% to 23.4%, their market share increased from 69.9% in January 2023 to 72.0% in April thanks to these products. 
The research also noted that short Bitcoin-based products had their biggest weekly outflows in 2023, possibly attributable to BTC’s upward momentum and the sharp price gain that month. 
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The post <a rel="nofollow" href="https://bitcoinworld.co.in/crypto-investment-products-asset-under-management-rose-nearly-60-year-to-date-report/">Crypto Investment Products’ Asset Under Management Rose Nearly 60% Year-to-Date: Report</a> appeared first on <a rel="nofollow" href="https://bitcoinworld.co.in">BitcoinWorld</a>.

Crypto Investment Products’ Asset Under Management Rose Nearly 60% Year-to-Date: Report

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