October witnessed significant advancements in the industry owing to the launch of six ETH Futures ETFs, offering investors a chance to delve into Ether futures. Bitcoin responded positively to the developments. Further gains were fueled by speculations about BlackRock’s application approval of a spot BTC ETF in the United States.

As a result, the total assets under management (AUM) for digital asset products surged by 6.74%, reaching $31.7 billion in October. This represented the first upturn since July 2023.

The narrowing Grayscale discount, which hit its lowest point at 12.6% on October 18th, further exemplified the shift, as per the latest report by crypto data provider CCData. The decrease in the disparity between the Trust’s market price and its Net Asset Value (NAV) mirrors the increasing confidence in the approval of a spot Bitcoin ETF.

SOL-based Products See 74% Increase in AUM

Despite affiliation to FTX and its disgraced founder, Sam Bankman-Fried, as well as its own share of outages, Solana has managed to recover this year. This is evident by the continued inflow streak over the past several weeks.

According to CCData’s report, Solana-based products stood out among its rivals and observed the most significant AUM increase during the period, soaring by 74.1% to $140 million in October.

Meanwhile, the assets under management (AUM) for Bitcoin-based products also surged by 11.1%, reaching $23.2 billion and commanding a 73.3% market share. This signifies a rise from 70.5% in September.

Ethereum-based products, however, witnessed a decrease despite the introduction of new ETFs. These products collectively experienced a 5,45% decline, lowering their AUM to $6,35 billion, and their market share dropped to 20.1%. This marks a down from 22.6% in September.

Basket-based products, on the other hand, saw a 2,10% increase, r