In line with a recent ‘news report‘ published by ‘Diar’, the institutional Bitcoin [BTC] investment Trading of products have seen growth and expansion for the fourth month running, and are still rising against U.S. – based cryptocurrency exchanges as a proportion of the total trading volume.
As per Diar’s data, the month-on-month, the proportion that institutional Bitcoin [BTC] products account for out of total Bitcoin commerce volumes has continued to uniformly grow, with around 15% in Jan. this year, 17% in Feb., 18% in March and presently 19% in April now.
Diar’s data probably focuses on 3 institutional products – CME [Chicago Mercantile Exchange] Bitcoin futures, CBOE [Chicago Board Options Exchange] Bitcoin futures along with GBTC [Grayscale’s Bitcoin Investment Trust].
The rising share notably doesn’t represent an all time high, that was at around 24% earlier in the month of July last year, as per Diar’s report. Moreover, the rising relative expansion of institutional products comes amid a ‘backdrop‘ of ‘declining‘ Bitcoin commerce volumes within the Unites States context overall:
Additionally as per Diar, CBOE has logically seen the major declines in market dominance, having ‘delisted‘ Bitcoin futures earlier in the month of March this year as it reassesses its approach to listing cryptocurrency derivative offerings.
Explaining further Diar added that Grayscale’s GBTC, that trades on the OTCMarkets, has reportedly additionally lost dominance. Having accounted for around 50% of the market share across the three institutional products, it however presently reportedly stands at under half, at around 24%.
As a context for its findings, Diar outlines a recent ‘analysis‘ from crypto index fund provider named Bitwise Asset Management that argued that around 95% of volume on unregulated exchanges seems to be faux or non-economic in nature.
While arising suspicions related to the reported volumes that have often ‘beset‘ the ecosystem, Bitwise’s data and claims were notably submitted to the United States SEC [Securities and Exchange Commission].