The surge in popularity of crypto investment products based on Solana, XRP, and Stellar, has been paralleled with a noteworthy rise in Assets Under Management [AUM] and an abundance of activity. Last month saw a jump of 62.7% in Stellar basis products, reaching $17.3 million following the launch of Grayscale’s highly praised XLM product. XRP and SOL provided a lesser, yet still impressive, 33.2% and 55.7% increase in AUM bringing the figures to $65.7 million and $87.8 million respectively. In July, despite all the talk surrounding anticipated ETF launches, consumers veered more towards Exchange Traded Commodities [ETCs], resulting in a pleasant 31.4% rise in AUM hovering around $2.67 billion, and a modest climb from a 6.11% market share to 7.91%. ETFs, on the other hand, followed suit and tallied an outstanding 6.07% growth and 11.5% market share as asset managers worldwide continued to lodge applications and launch new variants. Data from the CCData recent research report detailed that Grayscale was the biggest beneficiary of these trends, amassing an aggregate value of total assets in excess of $25 billion, significantly distancing itself from closest challengers ProShares, 21Shares, Purpose Invest, CoinShares, and VanEck.
The surge in altcoin assets and hi-tech investments reflects tech-savvy consumers of today being inclined towards new ways of trading and securing exposure to the crypto space. Despite regulatory limits being the only snag, the continual progress of asset managers and their applications has put a smile on the faces of high hopes worldwide. All in all, a vast ocean of possibilities has been laid at the fingertips of the digital investor. It remains to be seen what the near future will deliver.
