• The total AUM of crypto investment products has increased to $54.8 billion

  • As the prices of most top cryptocurrencies began to recover in late July, the total assets under management (AUM) across all cryptocurrency investment products surged 57.3 percent to $54.8 billion.

    According to the August issue of CryptoCompare’s Digital Asset Management Review, Bitcoin-focused investment products saw their total assets under management increase 51.9 percent to $38.1 billion, although they lost market share to other products that experienced higher inflows. BTC products now account for 69.6 percent of the total.

    AUM in Ethereum-focused products increased by 72.8 percent to $13.8 billion, while AUM in asset basket products increased by 67.8 percent to $2.3 billion. Exchange-traded funds (ETFs) and exchange-traded notes (ENS) both increased significantly, by 79.1 percent and 91.4 percent, respectively.

    Notably, data reveal that institutional investors are betting on Solana ($SOL) and Cardano ($ADA) investment products as the cryptocurrency market recovers and bitcoin approaches $50,000.

    Last week, institutional investors transferred $7.1 million into Solana investment products, presumably in response to SOL’s recent price boom, which saw it rise from a little more than $35 to a new all-time high, then above $75. Since then, the cryptocurrency has surpassed the $80 threshold.

    With inflows of almost $6.4 million, the most popular Solana investment products were those following the price of Cardano’s ADA. These two were supported by bets on ETH and LTC investment products.

    According to CryptoCompare’s Digital Asset Management Review, average daily aggregate product volumes increased 46.6 percent to $544 million. The average daily volume for GBTC, the investment trust purchased by Morgan Stanley, increased 17.4 percent to $240 million, while Grayscale’s Ether investment product increased 105.9 percent to $193.3 million.

    Grayscale’s Digital Large Cap (GDLC) fund likewise had a 117.4 percent growth in volume in July, reaching $6 million.

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