Analysis of global Exchange Traded Products (ETPs) with cryptocurrencies as underlying assets, revealed a 1% increase in the assets under management (AUM) value during the month of February, while the cryptocurrency market value increased by 1.5% during the same period.
Total crypto ETP AUM increased to $28 billion from $27.7 billion between February 1 and March 1, according to Fineqia Research. The total number of ETPs listed dropped to 155 from 164, with Austria’s Bitpanda GmbH halting trading of their 5 ETPs and the UK’s ETC Group that shut four of their ETPs. The ETPs include Exchange Traded Funds (ETFs) and Exchange Traded Notes (ETNs).
The overall value of cryptocurrencies remained over the $1 trillion mark, closing the month at $1.07 trillion, slightly up from $1.05 trillion in January. The year-on-year data show a 37% decrease in the total crypto market cap compared to the $1.7 trillion total value observed on March 1, 2022.
“Following a successful rebound in January, ETPs AUM and underlying prices demonstrated stability throughout February,” said Fineqia CEO Bundeep Singh Rangar. “Last year’s turmoil has resulted in a mini shakeout early this year as larger ETPs attract more investor attention.”
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Cryptocurrency markets rallied in February
The price of Bitcoin (BTC) reached $23.500 on March 1, a 3% increase to about $22.800 recorded on February 1. In the same period. AUM of ETPs holding BTC increased by 1% to $19.2 billion from $19 billion. During January, the Ethereum (ETH) price increased 4.5% to almost $1.650 from about $1.550. The AUM of Ethereum (ETH) denominated ETPs closely followed with a 2.5% increase to $6.85 billion on Feb.1, from $6.7 billion on February 1.
ETPs representing alternative coins remained stable, and those with a basket of cryptocurrencies dropped by 1%. Year-on-year data revealed a 45% drop in price for both Bitcoin and Ethereum over the past 12 months, while the year-to-date price levels reflected a 42% price increase for BTC and a 36% rise in value for ETH.
All references to price are quoted in USD, and all cryptocurrency prices are sourced from CoinMarketCap. Data referenced on ETP, and ETF AUM were compiled from publicly available sources, including 21Shares AG, Grayscale Investment LLC, VanEck Associates Corp., MorningStars, Inc., and TrackInSight SAS by Fineqia’s in-house research department.
