According to a newly published report, investments in Ethereum (ETH) assets increased in August, while investments in Bitcoin (BTC) assets decreased in the same period.
Cryptocurrency analysis company Crypto CompareA recent report from Ethereum assets under management in August 2.36% increased by the rate of increase and the value of total assets to $6.81 billion specified. Bitcoin assets under management during the same period 7.16% decreased and the value of total assets $17.4 billion declined. Although there was an investment-oriented rise on Ethereum, this was not enough to change the downward trend in total asset inflows during the bear market.
Crpto Compare company is expected to take place in September as the biggest reason for the volume change. Ethereum Merge points to update:
Even when examined one by one, it seems that no Bitcoin products experienced an increase in AUM or volume in August. In the short term, we can see that the interest shifts from Bitcoin to Ethereum-based products, which are attracting attention due to the long-awaited and on the horizon Merge.
Despite the ongoing bear market conditions, some leading financial institutions introduced various investment products to the market in August. Among these investment products, exchange traded funds (ETF), commodity traded on the stock exchange (ETC), stock market investment products (ETN) and your trusts is known to be involved.
In addition to the increase in interest in Ethereum investment products, the highest investment inflow in August was in the “Other” area, which represents the rest of Ethereum and Bitcoin products. The total value managed by these products is in the first three weeks of August. 12.3% increasing $1.13 billion has soared.