October saw the first monthly increase since July in the total assets under management (AUM) for digital products traded on exchanges and over the counter, rising by 6.74% to $31.7 billion. This increase coincides with growing anticipation that early in the new year, a number of bitcoin exchange-traded funds (ETFs) would be approved by the U.S. Securities and Exchange Commission. Significant events in the digital asset industry in October were noted by benchmark administrator CCData. These included the introduction of six ETH Futures ETFs and a 7.56% increase in the price of Bitcoin due to rumours that BlackRock’s application had been approved.
The market share of bitcoin-based products increased to 73.3% from 70.5% in September due to crypto-specific fund flows, while AUM increased by 11.1% to $23.2 billion. On the other hand, the market share of ether (ETH)-tied products dropped from 22.6% in September to 20.1%, with an AUM of $5.45 billion. AUM growth for goods linked to Solana’s cryptocurrency, SOL, was highest at 74.1% to $140 million, while AUM growth for products based on ATOM was 58.6% to $2.15 million. To $1.19 billion, basket-based items saw a 2.10% increase.