Global crypto ETPs’ AUM rose 7.5% in October: Fineqia

The global value of all cryptocurrency exchange-traded products (ETPs) rose by 7.5% in October, pushing the crypto-based ETPs assets under management (AUM) up by more than $1.8 billion between 1 October and 1 November.

The crypto news details findings by research analysts at debt securities management firm Fineqia, a listed entity trading in Canada and Germany.

According to analysis by Fineqia researchers, publicly available crypto ETP data from companies such as 21Shares (the firm that in May launched two ETPs for accredited US investors), Grayscale Investments, VanEck and MorningStars, show that ETPs with crypto as underlying assets saw a monthly change in total AUM from $23.5 billion to $25.3 billion.

In total, the analysis compiled data from across 159 listed products, including crypto ETFs and exchange traded notes (ETNs), Fineqia noted in a press release on Tuesday.

Price is key driver of AUM

According to Fineqia, the 7.5% increase in crypto ETP AUM mirrored the 7% increase in the global cryptocurrency market cap in October. Bitcoin (BTC) and the altcoin market saw some minor gains during the month to help the total crypto market cap break above $1 trillion.

The crypto prices gains were also reflected in crypto ETPs global AUM, with Bitcoin ETPs seeing a 5% jump in AUM during the month as BTC price rose to above $20,600 on 1 November. The value of altcoin-related ETPs rose 4%, with Fineqia analysts pointing to an 8% spike in a basket of these crypto assets.

Fineqia CEO Bundeep Singh Rangar commented:

“The price of cryptocurrencies remains the pole star. It’s the sole driver of ETP AUM values at the moment, not capital inflows or new product offerings”

Despite the increase in crypto ETPs from 109 in January to 159 in October, the AUM of all crypto ETPs over the past month remained more than 57% down from the $58.5 billion in January 2022. This also mirrors the prices of Bitcoin and Ethereum, which are down 56% and 57% respectively over year-to-date.

Source: https://invezz.com/news/2022/11/08/global-crypto-etps-aum-rose-7-5-in-october-fineqia/