Global AUM of crypto ETPs rose to $28 billion in February: Fineqia

The cryptocurrency market is seeing yet another rough patch as prices fall amid negative sentiment around collapsed crypto-friendly banks Silvergate Bank and Silicon Valley Bank.

But the declines being witnessed in March come after a slightly positive February where the total cryptocurrency market cap held above $1 trillion. The crypto exchange-traded products (ETPs) market also saw a slight increase in total value under management during the month, research by digital assets firm Fineqia shows.

Fineqia researchers compiled the data from publicly available sources, the firm noted. Companies whose data informed the research findings include 21Shares AG, VanEck Associates Corp., and Grayscale Investment LLC among others.

Here’s a summary of the main crypto stats from the research:

Crypto ETPs total value increased 1% to hit $28 billion in February 2023

Per statistics Fineqia shared with Invezz, the global value of cryptocurrency ETPS (including crypto exchange-traded funds (ETFs)) increased 1% during the month. According to the firm, the total value of Assets under Management (AUM) of all crypto ETPs increased from $27.7 billion to $28 billion between 1 February 2023 and 1 March 2023.

Global crypto market cap increased 1.5% in February, but was 37% down YoY

Compared to the global crypto ETPs, the global crypto market cap rose 1.5% in the same month to above $1.07 trillion. However, despite ending February above the $1 trillion mark, the total crypto market cap at the start of March 2023 showed a 37% decrease year-on-year from the $1.7 trillion recorded on 1 March, 2022.

Number of listed ETPs declined from 164 to 155

As Fineqia Research data showed, February saw a decline in the number of exchange-traded products across the globe. Specifically, the total number of listed ETPs fell from 164 to 155. Two major providers Bitpanda GmbH and ETC Group halted a combined 9 ETPs. Austria-based Bitpanda shut 5 ETPs while UK-based ETC Group halted four, with both companies removing ETFs and ETNs (exchange-traded notes). (ETNs).

AUM of Bitcoin denominated ETPs increased 1% as price rose 3%

The price of Bitcoin (BTC/USD) briefly broke above $25,000 in February, before closing the month around $23,500 to record a 3% increase during the month. In comparison, the AUM of all BTC-denominated ETPs rose 1%, from $19 billion to $19.2 billion.

Ethereum-focused ETPs rose 2.5%

ETPs holding Ethereum (ETH/USD) saw a 2.5% spike in global AUM, from $6.7 billion to $6.85 billion. This happened as the price of Ether rose 4.5% to about $1,650 at the end of the month.  According to Fineqia, altcoin ETPs were largely stable, while the AUM of a basket of digital assets fell by 1%.