Crypto ETP volumes surge 91%, outpacing underlying assets — Report
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.