According to a report published recently by crypto analytics firm CryptoCompare, Ethereum’s assets under management (AUM) fell 46.7% in June to $4.54 billion.
By comparison, Bitcoin’s AUM has dropped by about 33.6% over the same time period.
Ethereum recently recorded its worst quarter ever, plummeting 67% since April. On June 18, the price of the second largest cryptocurrency dropped to as low as $881. Meanwhile, Bitcoin recorded its worst quarter since 2011, with its value dropping more than 68%.
Grayscale, the world’s largest crypto asset manager, accounts for over 77% of all AUMs.
Overall, the weekly net cash flow recorded a new record high average of $188 million, which shows that institutional investors have been fed up with the cryptocurrency due to the rapidly falling price.
The ETF-linked AUM fell more than 52% last month due to worsening market conditions. Meanwhile, Bitcoin short products benefited from the crypto carnage, averaging $33.2 million more per week.
Trading volume on crypto investment products fell 7.16% last month. Grayscale Bitcoin Trust (GBTC), as expected, is the most traded fund, recording an average daily volume of $125 million. In fact, GBTC’s trading activity has grown by more than 18% in the last month. On the other hand, Grayscale’s Ethereum trust recorded a 25% drop in trading volume, failing to keep up with the trend.
While the overall drop was relatively modest, digital investment products still recorded their lowest trading volume since November 2020.
DISCLAIMER: The Information on this website is provided as general market commentary and does not constitute investment advice. We encourage you to do your own research before investing.
Join CoinCu Telegram to keep track of news: https://t.me/coincunews
Follow CoinCu Youtube Channel | Follow CoinCu Facebook page
Harold
CoinCu News
Author
According to a report published recently by crypto analytics firm CryptoCompare, Ethereum’s assets under management (AUM) fell 46.7% in June to $4.54 billion.
By comparison, Bitcoin’s AUM has dropped by about 33.6% over the same time period.
Ethereum recently recorded its worst quarter ever, plummeting 67% since April. On June 18, the price of the second largest cryptocurrency dropped to as low as $881. Meanwhile, Bitcoin recorded its worst quarter since 2011, with its value dropping more than 68%.
Grayscale, the world’s largest crypto asset manager, accounts for over 77% of all AUMs.
Overall, the weekly net cash flow recorded a new record high average of $188 million, which shows that institutional investors have been fed up with the cryptocurrency due to the rapidly falling price.
The ETF-linked AUM fell more than 52% last month due to worsening market conditions. Meanwhile, Bitcoin short products benefited from the crypto carnage, averaging $33.2 million more per week.
Trading volume on crypto investment products fell 7.16% last month. Grayscale Bitcoin Trust (GBTC), as expected, is the most traded fund, recording an average daily volume of $125 million. In fact, GBTC’s trading activity has grown by more than 18% in the last month. On the other hand, Grayscale’s Ethereum trust recorded a 25% drop in trading volume, failing to keep up with the trend.
While the overall drop was relatively modest, digital investment products still recorded their lowest trading volume since November 2020.
DISCLAIMER: The Information on this website is provided as general market commentary and does not constitute investment advice. We encourage you to do your own research before investing.
Join CoinCu Telegram to keep track of news: https://t.me/coincunews
Follow CoinCu Youtube Channel | Follow CoinCu Facebook page
Harold
CoinCu News
Other Posts
Related Posts
Latest
Best New Meme Coins with 1000X Potential: BTFD Coin’s Hot BIG50 Discount As Baby Doge Coin, Dogs Takes Gaming to the Next Level
BlockDAG Surges Past $170M as BDAG250 Bonus End Countdown Begins – Aave Targets $400 & Solana Shines with Scalability
Qubetics Presale Price Surge Approaches: The Best Coins to Invest in Right Now While Toncoin, and XRP Gain Traction
Press Release
Best New Meme Coins with 1000X Potential: BTFD Coin’s Hot BIG50 Discount As Baby Doge Coin, Dogs Takes Gaming to the Next Level
BlockDAG Surges Past $170M as BDAG250 Bonus End Countdown Begins – Aave Targets $400 & Solana Shines with Scalability
