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Grayscale Bitcoin ETPs Show Weak Performance While Other ETP Volumes Spike in October

Tue, 10/20/2020 - 15:08
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Yuri Molchan
CryptoCompare has revealed that, in October, daily crypto ETP volumes of some companies increased 2.2 percent; however, ETPs by Grayscale did not perform so well
Grayscale Bitcoin ETPs Show Weak Performance While Other ETP Volumes Spike in October
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A new report by analytics platform CryptoCompare reveals that, in October, Bitcoin-based daily volumes of exchange-traded products by some companies have shown a slight rise in performance.

However, this cannot be said about crypto ETPs from Grayscale in particular.

Crypto ETPs show a significant rise

The recent report has revealed that, in Octoberwhich is approaching its endcrypto-based exchange-traded products from such companies as Wisdom Tree and ETC Group have shown daily returns 2.2 percent higher than previously.

That is $66.6 mln in October, in comparison to September when this figure totaled $65.2 mln.

The highest returns on Bitcoin ETPs over the past month were made by ETC Group (BTCE, 7.7 percent) and Wisdom Tree (BTCW, 7.3 percent); these two are now the biggest ETPs by market capitalization.

According to the report, overall daily ETP volumes have shown 2.2 percent growth on average this month ($66.6 mln per day) compared to the previous month ($65.2 mln daily).

Image via CryptoCompare

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Grayscale ETPs face underperformance

ETP products offered by GrayscaleGDLC and ETCGwhich are traded on OTC marketsfaced the greatest decline in value in 30 days, losing 19.9 percent and 17.6 percent, respectively.

Another product by Grayscale, ETHE/USD, also depreciated over the past 30 days and underperformed by up to approximately 10 percent below the equivalent CCCAGG ETH/USD spot price.

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About the author

Yuri is a crypto journalist interested in technology and technical innovations. He has been in crypto since 2017. Believes that blockchain and cryptocurrencies have a potential to transform the world in the future in many of its aspects. ‘Hodls’ major cryptocurrencies and has written for multiple crypto media outlets. 

His articles have been quoted by such crypto influencers as Tyler Winklevoss, John McAfee, CZ Binance, Max Keiser, etc.

Currently Yuri is a news writer at U.Today and can be contacted at