Crypto ETP volumes surge 91%, outpacing underlying assets — Report
Cointelegraph
20 Nov 2023 10:27 AM
Global crypto ETP issuers increased AUM by 91% during a period from Jan. 1 to Oct. 31, 2023, outpacing the growth of underlying assets by 30%. ...
- Global cryptocurrency exchange-traded products (ETP) have experienced significant growth in 2023, surpassing the growth of underlying assets.
- Crypto-based ETPs issued by companies like 21Shares, Grayscale, and CoinShares saw a 91% increase in total assets under management (AUM) from Jan. 1 to Oct. 31, 2023.
- The growth of crypto ETPs outperformed the growth of underlying digital assets by 30% during the same period.
- Fineqia's study included a total of 168 crypto ETPs issued by various companies.
- Bitcoin accounts for 75% of the total crypto ETP AUM, despite its share in the overall market being around 50%.
- The crypto ETP AUM reached $38 billion in October, marking its highest figure since May 2022.
- The total cryptocurrency market capitalization also rose 17% in October, reaching $1.35 trillion.
The article highlights the significant growth of cryptocurrency exchange-traded products, particularly in comparison to the growth of underlying digital assets. The sentiment is positive, indicating the potential for further excitement and market developments.
You May Ask
Which companies have issued crypto-based ETPs that contributed to the significant growth in assets under management?What was the percentage increase in total assets under management for crypto ETPs from Jan. 1 to Oct. 31, 2023?How does the growth of crypto ETPs compare to the growth of underlying digital assets during the same period?What percentage of the total crypto ETP AUM is accounted for by Bitcoin?What was the total cryptocurrency market capitalization in October and how much did it increase compared to the previous month?