Cryptocompare, the firm that provides institutional and retail investors with real-time and historical cryptocurrency data, has published the firm’s November 2021 Digital Asset Management Review. This report covers crypto-exchange-traded products (ETPs). Recent findings have shown that alternative crypto asset investments are outperforming Bitcoin ETPs.

Ethereum-Based Investment Product Trade Volumes Increase

Every month Cryptocompare publishes a research report that covers the cryptocurrency investment product landscape. These investment products are ETPs that are tied to the top crypto assets worldwide, such as Grayscale’s GBTC or ETHE funds. Cryptocompare’s Digital Asset Management Review November report explains that ETPs tied to ethereum (ETH), litecoin (LTC), and solana (SOL) saw better returns during a 30-day time frame ending on November 19.

“The majority of AUM for trust products continues to reside in Grayscale’s Bitcoin (GBTC – $38.1bn – down 10.1% since October) and Ethereum (ETHE – $12.9bn- up 3.6%) products,” Cryptocompare’s report discloses. “ETC Group’s BTCE product regained the position of highest AUM ETN/ETF product with a gain of 1.2% to $1.5bn. This was followed by Purpose’s Bitcoin ETF (BTCC) and 3iQ Coinshares’ Bitcoin ETF (BTCQ) which fell 6.5% and 10.1% to $1.4bn and $1.2bn respectively,” the Cryptocompare researchers add.

Aggregate of Crypto-Based ETP Daily Trade Volumes Slid by 13% — Litecoin and Solana ETPs Outperform Bitcoin Investment Products

The research highlights that overall, crypto-based ETP daily volumes slid by 13% but popular ETH-based ETP volume rose. “Average daily trading volumes across all digital asset investment product types fell by an average of 13% from October to $732mn/day,” the study highlights. Cryptocompare’s report notes that Bitcoin-based investment products “performed poorly,” while LTC and SOL-based ETPs did well. Grayscale’s basket fund which contains some of the largest market cap coins returned -15.5%, Cryptocompare detailed.

“BTC-based investment products generally saw negative returns in November, led by ETC Group’s BTCE product which returned -13.1%. Similarly, Grayscale’s GBTC trust returned -10.2%,” Cryptocompare’s November study explains. Valour’s BTCZERO investment product returned 6.6%. On the other hand, alternative coins-based products saw positive returns throughout the month, led by 21Shares’ ASOL (Solana-based product) and Grayscale’s LTCN (Litecoin-based product), which returned 22.0% and 14.9% respectively,” Cryptocompare’s report concludes.

What do you think about the bitcoin investment products’ performances compared to alternative crypto asset ETP market performances? Please comment below to let us know your thoughts on this topic.

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