Institutional Bitcoin trading volumes See fourth month of growth, daily reports

3 min read

Trade in institutional Bitcoin (BTC) investment products increased in the fourth month in a row and is rising compared to crypto exchanges based in the United States as a percentage of total trade volume. The news was revealed in a new report from Diar's weekly crypto outlet on April 8.

The Diar data show that month by month the percentage of institutional BTC products from the total Bitcoin trading volume has continued to increase steadily, by 15% in January 2019, 17% in February, 18% in March and now 19% in April.

Diar's data focuses on three institutional products – Chicago Mercantile Exchange (CME), Bitcoin futures, Chicago Board Options Exchange (CBOE), Bitcoin futures, and Grayscale's Bitcoin Investment Trust (GBTC).

Bitcoin institutional products as a percentage of total trade volume. Source: Diar, Vol. 3. Number 10

In particular, the rising market share is not the highest point ever, which was 24% in July 2018, according to Diar's data. Moreover, the increasing relative popularity of institutional products comes with a background of declining Bitcoin trading volumes in the American context as a whole:

Bitcoin trading volumes of the American stock exchange and institutional products

Bitcoin trading volumes of the American stock exchange and institutional products. Source: Diar, Vol. 3. Number 10

As Diar points out, CBOE has logically seen the biggest fall in market dominance, after it had scrapped Bitcoin futures in mid-March this year, while re-evaluating its approach to offering crypto derivatives.

Diar further states that Grayscale & # 39; s GBTC, which trades on the OTCMarkets, has also reportedly lost dominance. Since the market share was good for more than 50% of the three institutional products, it is now reportedly half, namely 24%.

As a context for his findings, Diar mentions a recent analysis by Bitwise Asset Management, supplier of cryptocurrency index funds, which claimed that 95 percent of the volume on non-regulated exchanges appears to be fake or non-economic in nature.

Although suspicions regarding reported volumes have often affected the industry, Bitwise data and claims were filed primarily with the US Securities and Exchange Commission.

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Don Bradman

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