ETH Products Rise in August as BTC Products Fall: CryptoCompare Report

The upcoming merger has contributed to an increase in Ethereum investment products and trading volume, as Ethereum market AUM figures crypto continue to fall amid bear market

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Ethereum investment products rose 2.36% to $6.81 billion in assets under management (AUM) during the month of August, outperforming Bitcoin products which saw a decline of 7.16% to $17.4 billion.

The figures were contained in a new report from CryptoCompare.

This was also reflected in Bitcoin (BTC) and Ethereum (ETH) product trading volumes, with Grayscale's most notable Bitcoin product, GBTC, seeing a 24.4% drop in volume, while its Ethereum product, GETH, actually grew by 23.2%. CryptoCompare's report suggests that the highly anticipated Ethereum merger was the cause of the variation in transaction volumes:

Indeed, even at a more granular level, no Bitcoin product covered in this report recorded gains in AUM or volume during the month of August. We may see interest shift away from Bitcoin in the near term as Ethereum-based products gain attention with the highly anticipated merger on the horizon.

Monthly AUM figures for digital asset investment products fell 4% overall, which was largely attributed to the 6% drop in Grayscale's GBTC product, as it represents 13 $.4 billion of the $25.8 billion in digital assets under management (53.4%).

The largest inflows came from products falling under the "Other" category, representing products other than Bitcoin and Ethereum, which saw a 12.3% increase to $1.13 billion over the three first weeks, according to the report.

Monthly AUM figures for digital asset investment products have steadily fallen across the bear market. Source: Crypto Compare.

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