CCData reports 11% rise in Bitcoin fund AUM

In October, amid positive market developments, total assets under management (AUM) for digital-asset investment products rose 6.74% to $31.7 billion, according to CCData’s monthly report CCData.

Meanwhile, Bitcoin funds’ AUM rose 11.1% to $23.2 billion. Bitcoin-based instruments account for 73.3% of the market, up from 70.5% a month earlier.

The Ether-based funds fell by 5.45% to $6.35 billion, despite recently launched ETF. Funds tied to the second-largest cryptocurrency account for 20.1% of the sector.

“In October there were significant changes in the digital assets space. began trading six ETH futures ETFs. Shortly after, the price of the first cryptocurrency rose by 7.56% in less than an hour to a peak of $30,000, which was due to rumours about BlackRock’s approval of a spot Bitcoin ETF,” analysts noted.

Solana-based products posted the largest AUM gain, up 74.1% to $140 million. This month, the asset’s price spiked by 54%, outpacing digital gold in momentum.

According to experts, the daily turnover of crypto investment instruments rose to $230 million, up 44.3% versus September.

The United States remains dominant by a wide margin in crypto funds, with a 77.3% share.

The largest daily-volume product was BITO by ProShares — $104 million.

Earlier, technical analyst and head of Factor LLC, Peter Brandt, urged Bitcoin traders to brace for a “bloodbath”. In his view, the asset has bottomed, but a “festival of swings” lies ahead.

Matrixport analysts forecast that digital gold would rise to $42 000-56 000 following the approval of a spot BTC ETF. CryptoQuant projected values in $50 000-73 000.