{"id":25313,"date":"2023-11-20T11:14:37","date_gmt":"2023-11-20T11:14:37","guid":{"rendered":"https:\/\/nftandcrypto-news.com\/crypto\/crypto-etp-volumes-surge-91-outpacing-underlying-assets-report\/"},"modified":"2023-11-20T11:14:40","modified_gmt":"2023-11-20T11:14:40","slug":"crypto-etp-volumes-surge-91-outpacing-underlying-assets-report","status":"publish","type":"post","link":"https:\/\/nftandcrypto-news.com\/crypto\/crypto-etp-volumes-surge-91-outpacing-underlying-assets-report\/","title":{"rendered":"Crypto ETP volumes surge 91%, outpacing underlying assets: Report"},"content":{"rendered":"
Global cryptocurrency exchange-traded products (ETP) have seen a significant uptick in 2023, reportedly outpacing the growth of underlying assets, according to a report by digital asset platform Fineqia.<\/p>\n
Crypto-based ETPs issued by companies like 21Shares, Grayscale and CoinShares recorded a 91% increase in total assets under management (AUM) from Jan. 1 to Oct. 31, 2023, Fineqia reported.<\/p>\n
The surge of crypto ETPs has outperformed the growth of underlying digital assets by 30%, as cryptocurrencies had comparatively slower growth of around 70% over the same period.<\/p>\n
Fineqia\u2019s study included all currently issued a total of 168 crypto ETPs, based on the ETP AUM data from sources like 21Shares, Grayscale Investment, VanEck Associates and others. <\/p>\n
\u201cThe research includes all the products issued by 21Shares, Grayscale, CoinShares, ETC Group, VanEck, WisdomTree and other issuers,\u201d a spokesperson for Fineqia told Cointelegraph.<\/p>\n
\u201cThe data is updated every first business day of the month; hence, they express the data at the end of the previous month,\u201d Fineqia\u2019s research analyst Matteo Greco stated. He added that the data is collected from official sources and, when not available on the issuers\u2019 websites, from data aggregators. \u201cAll the data is stored into a spreadsheet and stacked every month starting from August 2022,\u201d the analyst noted.<\/p>\n
Fineqia has attributed the difference between the crypto ETP AUM surge and the crypto market surge to Bitcoin\u2019s (BTC) larger proportion within digital asset ETPs compared with its share in the overall market. According to the study, Bitcoin accounts for 75% of the total crypto ETP AUM. On the other hand, Bitcoin\u2019s share of the crypto market has been around 50% for the past year, according to data from CoinGecko.<\/p>\n
At the same time, Bitcoin has been one of the biggest gainers on the crypto market, surging 104% during a period from Jan. 1 to Oct. 31, 2023. Ether (ETH), the second-largest cryptocurrency by market cap, surged 50% over the same period, according to data from CoinGecko.<\/p>\n