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<\/p>\nInstitutional investors\u2019 interest in Ethereum (ETH) and other bitcoin alternatives appears to be increasing, with bitcoin investment products seeing their total assets under management falling 7.8% in September to $35.1 billion, their lowest share this year.<\/p>\n
According to the September edition of CryptoCompare\u2019s Digital Asset Management Review, Ethereum-based products reached their highest market share of assets under management last month. The movements appear to suggest investors are looking to diversify their exposure in the cryptocurrency space.<\/p>\n
It adds that Grayscale\u2019s Ethereum Trust (ETHE) was the most traded digital asset product last month with an average daily trading volume of $250 million, up 29% over August. For the first time ever, it dethroned the Grayscale Bitcoin Trust (GBTC).<\/p>\n
Ethereum-related products\u2019 rise came even as their assets under management fell marginally to $13.4 billion. Products offering exposure to cryptocurrency baskets saw their AUM drop 1.3% to $2.8 billion.,<\/p>\n
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In total, the AUM across all digital asset investment products decreased 6.3% since August to $51.3 billion as of September 24. Aggregate daily volume across all crypto investment product types notably rose by an average of 4.1%, with daily volumes now averaging $566 million.<\/p>\n
The report details that after three months of net outflows, crypto investment products saw net flows turn positive in September. Exchange-traded notes (ETNs) were the only product type to see a rise in assets under management last month, as it grew by 7.2% to $3.7 billion.<\/p>\n