Bitcoin Cash

Bitcoin

Spot

Billion

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 <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> 
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 <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> 
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   <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"> 
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     Source: NewsBTC 
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 <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> 
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  <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"> 
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    Source: CCData 
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 <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> 
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 <p><strong>“Numerous institutions keenly awaiting a streamlined regulatory pathway to capitalize on Bitcoin’s upward price trajectory.”</strong></p> 
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    <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 
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 <p><strong>Also Read:&nbsp;Dogecoin Averages +24% in Asian Hours but -15% During US Hours</strong></p> 
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<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

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