In October, the price of Bitcoin and Ethereum rose by 42.0% and 35.4%, respectively, (data up to 21st October) following anticipation for the launch of the first Bitcoin ETF by ProShares on October 19th.

Rising prices and increased weekly inflows caused AUM to increase by 45.5% in October. Average daily volumes also rose in October to $802mn (43.6% increase) as higher prices led to more volatility, creating a potentially more profitable market environment for cryptocurrency traders.

October Highlights

• Total AUM grew 45.5% in October to a new all-time high of $74.7bn, surpassing the previous all-time high of $58.7bn in March 2021.
• Total AUM in Bitcoin-based products grew 52.2% to $55.2bn, another all-time high. Ethereum based products also reached a new all-time high in October, increasing 30% to $15.9bn..
• Grayscale’s GBTC Bitcoin Trust volumes increased by a staggering 112% to $388mm, compared to the month prior. As a result, it regained the top spot as the most traded digital asset product.
• Aggregate daily volumes across all digital asset types now stand at $826mn after increasing by an average of 43.4% from September to October.