Managed Assets Rise to $44 Billion This Month – Bitcoin News

The total assets under management of all Crypto Exchange Traded Products (ETPs) worldwide increased by 50% this month to nearly 44 billion USD. Among the listed products, Grayscale’s Bitcoin Trust tops the list with the most assets under management, while Bitwise’s Fund has been the best-performing Bitcoin product based on market price over the past 30 days.

  • On Friday, Cryptocompare published its “Digital Asset Management Review” for the month of February. According to the report, the total assets under management (AUM) of all exchange traded products (ETPs) increased 50% to $ 43.9 billion from mid-January to February 23.

  • Bitcoin was priced above $ 50,000 on February 23. It has since fallen to $ 46,876 at the time of writing, based on data from Markets.Bitcoin.com.
  • The product with the highest AUM traded on the crypto exchange was, according to a report by the Grayscale Bitcoin Trust (GBTC), with assets under management of $ 35 billion. On February 26, GBTC’s AUM fell to $ 30.72 billion due to the lower BTC price. Other listed crypto products with the highest AUM are the Ethereum Trust from Grayscale, the Litecoin Trust and the Bitcoin Cash Trust. 3iq’s bitcoin fund (QBTC) also made the top 5 list with $ 1.27 billion in assets under management.
  • Most investments in Crypto Exchange products are made by institutional investors, especially hedge funds. In its fourth quarter 2020 report, Grayscale wrote “Institutes are here,” and found that institutions represented 93% of all capital inflows for the period.

Institutional investors pile into crypto-exchange-traded products: Assets under management soar to $ 44 billion this month

  • For Exchange Traded Notes (ETNs), the ETC Group’s BTCE has the largest AUM at USD 1.01 billion. Wisdomtrees BTCW came in second with $ 314.8 million and 21shares ABTC with $ 257.8 million.
  • Exchange traded certificates are also listed in the report. XBT provider of Coinshares’ Bitcoin Tracker Euro holds the highest AUM at $ 1.72 billion, followed by Bitcoin Tracker One at $ 1.06 billion.
  • The best-traded Bitcoin product by market price over the past 30 days was the Bitwise 10 Crypto Index Fund (BITW) at 156%, the report said. The performance outperformed both the CCCAGG BTC / USD index from Cryptocompare (64%) and the performance of the MVDA index from MVIS (48.9%).
  • In addition, North America now has two Bitcoin Exchange Traded Funds (ETF): Purpose Bitcoin ETF and Evolve Bitcoin ETF. The former amassed $ 165 million on the first day of trading.

What do you think of investing in exchange-traded crypto products? Let us know in the comments below.

Photo credit: Shutterstock, Pixabay, Wiki Commons, Cryptocompare

Disclaimer of liability: This article is for informational purposes only. It is not a direct offer or a solicitation of an offer to buy or sell or a recommendation or approval of products, services or companies. Bitcoin.com does not provide investment, tax, legal, or accounting advice. Neither the company nor the author are directly or indirectly responsible for any damage or loss caused or allegedly caused by or in connection with the use or reliance on the content, goods or services referred to in this article.

Stay in the Loop

Get the daily email from CryptoNews that makes reading the news actually enjoyable. Join our mailing list to stay in the loop to stay informed, for free.

Latest stories

- Advertisement - spot_img

You might also like...