Bitcoin Cash

Bitcoin

Spot

Billion

<div class="watcher-guru"> 
 <p>The verdict in the SEC-Grayscale case was accompanied by a short-term price respite in the <a rel="noopener noreferrer nofollow" title="crypto" href="https://thebittimes.com/tag/crypto.html">crypto</a> market. A brief institutional accumulation spree was also registered. However, neither of the two trends could pass the test of time. The aggregate valuation of the market is down to $1 trillion yet again, with BTC trading below $26,000.</p> 
 <p><strong>Also Read: 99% Nigerians ‘Aware’ About Crypto, 90% Ready to ‘Invest’</strong></p> 
 <h3 class="wp-block-heading" id="h-crypto-asset-managers-register-aum-declines">Crypto Asset Managers Register AUM Declines</h3> 
 <p>Recent research by CCData revealed that Bitcoin-based investment products saw a decline of 12.8% in AUM to $21 billion. Consequentially, the market share of these products shrank to 70.5%. Even Ethereum-based products shared the same fate and registered an AUM drop of 12.2% to $6.75 billion.</p> 
 <div class="quads-location quads-ad33739 " id="quads-ad33739" style="float:none;margin:0px 3px 3px 3px;padding:0px 0px 0px 0px;"> 
  <div class="publift-ad add"> 
   <div data-fuse="22560828227"></div> 
  </div> 
 </div> 
 <p>Grayscale’s apex GBTC trust added $1.17 billion to its AUM on Aug. 29 and 30 following the verdict announcement. This market saw an increase of 7.20%. However, on the overall front, it noted a decline. The report highlighted,</p> 
 <p><strong>“Grayscale, which continues to hold a dominant position in terms of AUM by Company, saw its AUM decline 11.8% to $21.8 billion.”</strong></p> 
 <div class="wp-block-image"> 
  <figure class="aligncenter size-full is-resized"> 
   <img decoding="async" src="https://cdn.thebittimes.com/images/2023/09/04/a80de68143b88d18087e60bbc0c14d92.webp" alt="" class="wp-image-110173" style="width: 100%;height:355px" width="568" height="355" srcset="https://cdn.thebittimes.com/images/2023/09/04/a80de68143b88d18087e60bbc0c14d92.webp 800w, https://cdn.thebittimes.com/images/2023/09/04/a80de68143b88d18087e60bbc0c14d92.webp 300w, https://cdn.thebittimes.com/images/2023/09/04/a80de68143b88d18087e60bbc0c14d92.webp 768w, https://cdn.thebittimes.com/images/2023/09/04/a80de68143b88d18087e60bbc0c14d92.webp 380w, https://cdn.thebittimes.com/images/2023/09/04/a80de68143b88d18087e60bbc0c14d92.webp 550w" sizes="(max-width: 568px) 100vw, 568px"> 
   <figcaption class="wp-element-caption">
     Source: NewsBTC 
   </figcaption> 
  </figure> 
 </div> 
 <div class="quads-location quads-ad15192 " id="quads-ad15192" style="float:none;margin:0px 3px 3px 3px;padding:0px 0px 0px 0px;"> 
  <div id="primisContainer" class="add"></div> 
 </div> 
 <p><strong>Also Read: Grayscale Investors Can Get Exposure to Bitcoin Cash At Merely $0.007</strong></p> 
 <p>According to CCData, ”all” digital asset management companies recorded a decline in managed assets in August, triggered by the aftermath of the recent drop in BTC price. 21Shares experienced a dip in assets managed, which settled at $1.03 billion as of Aug. 25, following a decline of 14.0%. Due to the decrease, its market share declined to 3.45%. XBT Provider faced a downturn of 11.4%. In fact, other top crypto asset managers also followed suit.</p> 
 <figure class="wp-block-image size-full"> 
  <img decoding="async" width="673" height="306" src="https://cdn.thebittimes.com/images/2023/09/04/68253e2f04bb66e0cfc3aeaf735f66f5.webp" alt="" class="wp-image-110176" srcset="https://cdn.thebittimes.com/images/2023/09/04/68253e2f04bb66e0cfc3aeaf735f66f5.webp 673w, https://cdn.thebittimes.com/images/2023/09/04/68253e2f04bb66e0cfc3aeaf735f66f5.webp 300w, https://cdn.thebittimes.com/images/2023/09/04/68253e2f04bb66e0cfc3aeaf735f66f5.webp 380w, https://cdn.thebittimes.com/images/2023/09/04/68253e2f04bb66e0cfc3aeaf735f66f5.webp 550w" sizes="(max-width: 673px) 100vw, 673px"> 
  <figcaption class="wp-element-caption">
    Source: CCData 
  </figcaption> 
 </figure> 
 <h3 class="wp-block-heading" id="h-trust-and-etf-products-lose-market-share">Trust and ETF Products Lose Market Share</h3> 
 <p>Furthermore, <a rel="noopener noreferrer nofollow" title="trust products" href="https://thebittimes.com/tag/trust-products.html">trust products</a> recorded an asset decrease of 11.8% in August. Likewise, <a rel="noopener noreferrer nofollow" title="ETF" href="https://thebittimes.com/tag/etf.html">ETF</a> products noted a 15.1% decline. Consequently, their market shares shrank to 73.5% and 12.6%, respectively.</p> 
 <p>Yet, several believe that the approval of spot Bitcoin <a rel="noopener noreferrer nofollow" title="ETF" href="https://thebittimes.com/tag/etf.html">ETF</a>s by the SEC could reverse the tides. CryptoSea founder, Daan de Rover, pointed out that billions of dollars worth of funds would flow into the market once a favorable decision was made. According to him, <a rel="noopener noreferrer nofollow" title="ETF" href="https://thebittimes.com/tag/etf.html">ETF</a>s offer ”significant tax advantages and the ability to borrow against them.” Thus, buying Bitcoin Spot <a rel="noopener noreferrer nofollow" title="ETF" href="https://thebittimes.com/tag/etf.html">ETF</a>s could become ”more appealing,” especially for pension funds, leading to a rise in demand. He added,</p> 
 <div class="quads-location quads-ad33742 " id="quads-ad33742" style="float:none;margin:0px 3px 3px 3px;padding:0px 0px 0px 0px;"> 
  <div class="publift-ad add"> 
   <div data-fuse="22560828233"></div> 
  </div> 
 </div> 
 <p><strong>“Numerous institutions keenly awaiting a streamlined regulatory pathway to capitalize on Bitcoin’s upward price trajectory.”</strong></p> 
 <figure class="wp-block-embed is-type-rich is-provider-twitter wp-block-embed-twitter"> 
  <div class="wp-block-embed__wrapper"> 
   <blockquote class="twitter-tweet" data-width="550" data-dnt="true"> 
    <p lang="en" dir="ltr">Some doubt the impact of a Spot #Bitcoin <a rel="noopener noreferrer nofollow" title="ETF" href="https://thebittimes.com/tag/etf.html">ETF</a> on its price.<br><br>Let me clarify: it would lead to billions flowing into the market.<br><br>Here's why:<br><br>It's crucial to understand that an <a rel="noopener noreferrer nofollow" title="ETF" href="https://thebittimes.com/tag/etf.html">ETF</a> offers significant tax advantages and the ability to borrow against it. Therefore, buying Bitcoin… pic.twitter.com/xHBgDP8Fdv</p>— Crypto Rover (@rovercrc) September 3, 2023 
   </blockquote> 
  </div> 
 </figure> 
 <p><strong>Also Read:&nbsp;Dogecoin Averages +24% in Asian Hours but -15% During US Hours</strong></p> 
</div> 
<div class="cs-entry__tags"> 
 <ul> 
  <li>aum</li> 
  <li>crypto</li> 
  <li>ETF</li> 
  <li>GrAYSCALE</li> 
  <li>trust products</li> 
 </ul> 
</div> 
<p>Source: <a rel="noopener noreferrer nofollow" target="_blank" href="https://thebittimes.com/crypto-grayscale-aum-drops-12-to-22-billion-tbt61404.html">https://thebittimes.com/crypto-grayscale-aum-drops-12-to-22-billion-tbt61404.html</a></p>

Crypto: Grayscale AUM Drops 12% to $22 Billion

Table of Contents

TheBitTimes

Other articles published on Sep 4, 2023

XLM Price Analysis: With Trendline Breakout, Will XLM Price Ready To Cross $0.14?

Best Play to Earn and Gambling Projects

Join the Sustainable Movement with IUS Coin: Showcase Your Green Efforts and Win Big!

Binance’s Entry Followed by Increased Scrutiny on Foreign Executives in Korean Crypto Firms

Ethereum could get its own Supreme court, says Matter Labs CEO

Argo Blockchain Navigates Rough Waters: Significant Debt Reduction Amid Revenue Dip

Join our free newsletter for daily crypto updates!