Total assets under management for crypto ETPs rose by 50 percent since January
Despite the BTC price correction, total assets under management continue to grow in February.
Sun, 28 Feb 2021, 15:47 pm UTC
Bitcoin’s rally, coupled with the expected devaluation of fiat currencies, has attracted a number of institutional investors into the crypto. In fact, total assets under management (AUM) for crypto ETPs significantly rose in February, despite BTC’s recent price correction.
“Since mid-January 2021, total AUM across all ETPs have increased 50% to $43.9bn (as of 23rd Feb),” according to the recently released CryptoCompare Digital Asset Management Review. Conducted on a monthly basis, the review “aims to provide an overview of the global digital asset investment products landscape” and is targeted to institutional investors, analysts and regulators.
CryptoCompare revealed that the bulk of these assets under management for crypto ETPs is being handled by Grayscale. Grayscale’s Bitcoin fund’s (GBTC) AUM rose by 54.8 percent to $35 billion, its Ethereum fund (ETHE) rose by 60.8 percent to $5.58 billion, and its Litecoin fund (LTCN) rose by 1.3 percent to $3.9 billion.
“The majority of AUM for listed trust products continued to reside in Grayscale’s Bitcoin, Ethereum, and Litecoin products,” the review noted. “Other listed trust products include 3iQ’s Bitcoin Fund (QBTC), which increased 87.9% to $1.27bn.”
Meanwhile, ETC Group’s BTCE product occupies the top spot in terms of the largest AUM for Exchange Traded Notes (ETNs). Its assets under management rose by 108 percent to $1.01 billion since mid-January.
WisdomTree’s BTCW is ranked second in the ETN AUM category, rising 59.5 percent to $314.8mn. The third spot is occupied by 21Shares ABTC product as it posted growth of 45.9 percent for the same period or a total of $257.8 million of assets under management.
When it comes to Exchange Traded Certificates (ETCs), XBT Provider by Coinshares leads the pack with its Bitcoin Tracker Euro growing by 21.8 percent since mid-January to $1.72 billion. Its Bitcoin Tracker One product rose by 27.7 percent to $1.06 billion while its Ether Tracker Euro product’s AUM is valued at $693.7 million after posting a 40 increase for the same period.
The report also revealed that Bitwise’s Listed Trust (BITW/USD) is the best performing Bitcoin product for the past 30 days at 156 percent. “This exceeds CryptoCompare’s CCCAGG BTC/USD index performance (64%) as well as MVIS’s MVDA Index performance (48.9%),” the review said. “Another top-performing product (among the most liquid exchange-traded products by volume) include Grayscale’s Ethereum Classic Trust product (ETCG) with 105.5% in 30-day returns.”
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