A recent study found that ETF volume increased this month.

The CryptoCompare report details some of the Bitcoin (BTC) accounts, an epic bull that hit a new 2020 high of $ 17,800, and shows that institutions have been the driving force for speed.

A digital asset management survey found that total product sold increased 53% in the past 30 days. Average daily volumes are now $ 173.5 million versus $ 113 million in October. Exchange Traded Products, or ETPs, are types of securities that track underlying securities, indices, or financial instruments – in this case, Bitcoin.

The report cites Grayscale’s Bitcoin Trust product as one of the main drivers of speed growth, with total assets in excess of $ 9 billion. However, a recent institutional fund update released on November 18 shows it has reached $ 10 billion in digital assets under management. Grayscale now contains half a million BTC.

The Grayscales Ethereum Trust (ETHE), with $ 1.7 billion in assets under management, is up 40% in the last 30 days. The institutional rating provider also uploaded Litecoin (LTC), which currently has $ 58 million in assets, surpassing the Bitcoin Cash Trust at $ 46 million.

The report added that the 3iQs Bitcoin fund (QBTC) had the highest return in 30 days at just over 49%. 3iQ is a leading Canadian bitcoin and cryptocurrency asset manager.

ETC Group’s BTCE product generated the largest increase in assets under management, nearly doubling to $ 116 million, a 93% increase over the previous 30 days. BTCE’s average production tripled in November to $ 8.87 million per day, up 200% from the October average.

The BTCE Foundation, launched in June 2020, is the first bitcoin-based ETP to be listed on Xetra, a technology trading platform operated by the Deutsche Börse Group.

Meanwhile, assets managed by WisdomTrees BTCW increased 65% to $ 79 million over the same period. WisdomTree is a New York-based fund fund sponsor and asset manager of the ETP.

Institutional grade products will play a much larger role in Bitcoin’s growth in 2020. The last time BTC surged to these prices was in 2017, the Chicago Mercantile Exchange and the Chicago Board Options Exchange have just launched their first institutional Bitcoin futures products for the asset.

Source: CoinTelegraph