Bitcoin ETN Volumes Surge – Trustnodes

Bitcoin ETN Volumes Surge


Bitcoin ETN Volumes, Nov 2020

Bitcoin stock traded volumes have seen a significant increase according to research by CryptoCompare, a crypto stats website.

They say Grayscale’s Bitcoin Trust Product (GBTC) remains the biggest with a market cap of $9.1 billion for all its Exchange Traded Products (ETP).

That’s an increase of 56% over last month, with the Over the Counter (OTC) traded product setting a record of $215 million in weekly inflows.

Grayscale also has an Ethereum Trust product (ETHE) which has a market cap of $1.7 billion, a 40% increase over last month.

3iQ’s Bitcoin Fund product (QBTC) is one of the newest and more interesting one as this is a bitcoin Exchange Traded Fund (ETF).

It’s the first in the world of its kind, with it launching just this summer on the Toronto Stock Exchange.

It has already grabbed significant market share, being the biggest after Grayscale, with its market cap surpassing $105 million in October, and now standing at $167 million, a 58% increase.

In addition there’s ETC Group’s BTCE with a $116 million market cap, nearly doubling over last month. While BTCW by WisdomTree experienced a 65% increase to $79 million.

There’s also the XBT Provider’s ETNs, traded in Stockholm’s Nasdaq, with their bitcoin and ethereum assets surpassing one billion in August.

All have seen increased daily volumes, up by an average of 53.5% in November at $173.5 million a day compared to $113 million in October.

Grayscale’s Bitcoin Trust volumes have increased 68% on average to $162 million in November thus far. GBTC accounts for most of this volume, with ETHE trading $10.9 million per day in November, up 42% over October.

ETC Group’s BTCE, which trades on Deutsche Börse XETRA, has tripled its volume to $8.87 million a day, an increase of more than 200% over last month. While 3iQ’s QBTC-U volumes have increased 52.8% to reach $2.29 million a day.

All of these are regulated stock traded products, meaning they can be added to your pension or investment portfolio.

Many have done just that as these increased volumes attest, with stock like bitcoin products increasing in the market especially over the last two years.

So creating the infrastructure for investors that may not necessarily want to secure the private keys or deal with custody, but would still like to have bitcoin through their usual broker.

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