High capital investments have flooded into the cryptocurrency investment products in recent weeks, with the worth of assets invested into cryptocurrency exchange-traded products, or ETPs, increasing by over 90% within the past 30 days.
The spike within the assets under management, or AUM, locked in crypto ETPs was noted within the latest report revealed by Crypto Compare, that estimates nearly around $36 Bln is now invested in crypto ETPs – a 93.7% hike in one month.
Grayscale’s various trusts represent over 83% of the sector’s total AUM, with the firm’s Bitcoin Trust housing $22.6 Bln or 63% of all capital invested in crypto ETPs.
Crypto Compare estimates that ETP volumes tripled during January, with aggregate daily volume pushing above $1.5 Bln. Grayscale’s products were found to represent 64% of the sector’s volume, driving $972 Mln in daily trade.
Despite Grayscale’s dominant share of trade volume, its products were found to possess underperformed the spot markets as the historic premium on Grayscale’s shares fell by 8% earlier this month in January.
The AUM of Grayscale’s Litecoin Trust grew 111% to tag $3.84 Bln earlier in the month of Dec. 2010, sitting roughly 10% greater than the $3.47 Billion managed by its Ethereum Trust.
Less documented funds also saw significant growth, including 3iQ’s Bitcoin Fund which saw a 43% jump in AUM to $3.47 Billion.
Trade volume for cryptocurrency Exchange-traded notes, or ETNs, nearly tripled over the month. ETC Group’s BTCE product dominated ETN volumes with nearly $50 Mln in daily trade – representing over two-thirds of total ETN volume.
WisdomTree’s BTCW/USD was the 2nd-most traded ETN with $7 Mln in daily volume after its trade activity hiked over 210%, followed by VanEck’s Bitcoin Vectors with $5 Mln – due to an almost 500% jump in volume .
Trading in exchange-traded certificates, or ETCs, over doubled, with XBT Provider’s Bitcoin Tracker Euro and Bitcoin Tracker One products representing more than half combined ETC volume – driving $45.6 Mln and $34.9 Mln in respective daily trade.
XBT provider’s Ethereum derived products are the next-most popular ETCs, with Ether Tracker One and Ether Tracker Euro pushing $18.2 Mln as well as $17.8 Mln respectively.