Institutional investors continue to show interest in bitcoin – according to CryptoCompare, the capitalization of traded bitcoin exchange-traded products (ETP) has grown by 90% over the past 30 days.
At the moment, the capitalization of cryptocurrency ETPs is $ 36 billion.The growth of the indicator over the last 30 days was $ 93.7%. Grayscale Investments remains the leader in the ETP market – 83% of the total amount of funds is invested in its trusts. The Grayscale Bitcoin Trust manages $ 22.6 billion in assets, accounting for 63% of all investments in cryptocurrency exchange products.
The report also notes that ETP trading volume for bitcoin and other cryptocurrencies has tripled since December 20. Currently, the daily trading volume reaches $ 1.5 billion, with trades in Grayscale trusts shares accounting for 64% of the total trading volume in the sector. Interestingly, the Grayscale Trusts’ share price declined 8% in January.
With regard to exchange-traded index bonds (ETN), there has been an almost three-fold increase in trading volumes. Thus, the trading volumes of the ETC Group product called BTCE reached $ 50 million per day, and the trading volumes of BTCW / USD of the WisdomTree company amounted to $ 7 million per day.
The situation is similar with cryptocurrency exchange commodities – the daily trading volumes of XBT Provider Bitcoin Tracker Euro and Bitcoin Tracker One products are $ 45 million and $ 36 million, respectively.
Earlier, analysts at Ruffer Investments said that now institutional investors are just starting to invest in cryptocurrencies and we can expect institutional adoption of bitcoin in the coming years.
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