Global AUM Crypto Funds Soar 57% In One Month To $ 55 Billion

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Driven by recovering bitcoin and ether prices, assets under management (AUM) of global crypto funds jumped 57.3% to $ 54.8 billion in one month, according to a report by the data provider CryptoCompare.

However, as bitcoin fund AUMs rose 51.9% to $ 38.1 billion, the world’s largest cryptocurrency lost market share (now 69.6% of total AUMs from 72. 1% last month) while other assets saw larger increases. Ethers assets under management increased 72.8% to $ 13.8 million.

Cryptocurrency markets have seen their prices rebound over the past 30 days as bitcoin and ethereum rose 49.7% and 57.4% respectively (data through August 23), triggered by the Ethereum London Hard Fork implementation on August 5, ”CryptoCompare said in a statement. report.

A major technical upgrade has been deployed on the Ethereum network, called The London Upgrade or EIP -1559.

EIP -1559 was a set of interconnected upgrades that were supposed to make the Ethereum network more scalable, secure, and sustainable.

Thanks to the price recovery, average daily aggregate commodity volumes also rose 46.6% to $ 544 million in the past month, the largest sequential increase since May.

The average daily volume of major crypto funds such as The Grayscale Bitcoin Trust (GBTC) and Grayscale Ethereum Trust (ETHE) was $ 240 million (up 17.4%) and $ 193.3 million ( up 105.9%), respectively.

Grayscales Digital Large Cap (GDLC) product volume also rose 117.4% in July to $ 6.0 million, the largest increase of any trusted product for the same period.

The fund’s composition is bitcoin (69.27%), ethereum (24.49%), cardano (3.57%), bitcoin Cash (0.96%), litecoin (0.88%) and chainlink (0, 83%).

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