Report shows that the investment products of Ethereum, Litecoin, and Solana outperformed Bitcoin in November
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Cryptocompare, a company that provides institutional and retail investors with real, fresh data on cryptocurrencies, published a November 2021 digital asset management review report. The report covers crypto exchange-traded products (ETPs), and recent results show that alternative crypto asset investment products outperform Bitcoin products. Increased Trading Numbers for Ethereum-Based Investment Products Every month Cryptocompare publishes a research report covering the state of cryptocurrency investment products.
ETPs are products linked to the world's top crypto assets such as Grayscale's GBTC and ETHE. Cryptocompare's Digital Asset Management Review report for November shows that investment products tied to Ethereum (ETH), Litecoin (LTC), and Solana (SOL) saw better returns over the 30-day time frame ending on November 19. “The majority of assets under management for trust products remain in Grayscale’s Bitcoin products Grayscale (GBTC – $38.1 billion – down 10.1% since October) and Ethereum (ETHE – $12.9 billion – up 3.6%),” the Cryptocompare report reveals.
"ETC Group's BTCE product regained its position as the top ETN/ETF product with a 1.2% gain to $1.5 billion. This was followed by Purpose's Bitcoin ETF (BTCC) and 3iQ Coinshares' Bitcoin ETF (BTCQ) which fell 6.5% and 10.1% to $1.4 billion and $1.2 billion, respectively," researchers add. Cryptocompare. Total daily cryptocurrency-based e-commerce transaction volume fell by 13% – Litecoin and Solana ETP outperformed Bitcoin investment products The research highlights that daily cryptocurrency-based ETP investment product transaction volume fell by 13% while the volume of popular ETH-based products rose.
The study highlights that “average daily trading volumes across all types of digital asset investment products fell by an average of 13% from October to $732 million per day.” The Cryptocompare report notes that Bitcoin-based investment products “performed poorly,” while LTC and SOL-based products performed well. Funding for the Grayscale fund containing the largest coins by market cap fell by -15.5%, according to Cryptocompare details.
"Bitcoin-based investment products generally saw negative returns in November, led by ETC Group's BTCE product which returned -13.1%. Likewise, Grayscale's GBTC Sentiment returned -10.2%," according to Cryptocompare's November study. “The best performing investment product was Valour’s BTCZERO, which returned -6.6%.
On the other hand, altcoin-based products saw positive returns over the month, led by 21Shares’ ASOL (Solana-based product) and Grayscale’s LTCN (Litecoin-based product), which returned 22.0% and 14.9%, respectively,” according to Cryptocompare report results. Source
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