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Worldwide digital asset based ETPs AUM grow 70 per cent this year


Fineqia International has announced that its analysis of global ETPs with digital assets as underlying collateral, revealing a 70 per cent growth in total AUM in the YTD period amid renewed interest by investors.

Fineqia reports that the AUM at the end of July was USD34 billion compared with USD20 billion on January 1 this year. This 70 per cent YTD increase in AUM was a 47.2 per cent premium to the 47.7 per cent rise in the underlying value of digital assets. On a monthly basis, total crypto AUM in July decreased 3.9 per cent to USD34 billion from USD35.1 billion. During the same time, the overall value of crypto assets fell 1.5 per cent, to about USD1.17 trillion from USD1.20 trillion.

“Despite net inflows, the fact that more than 90 per cent of digital asset ETP AUMs comprise bitcoin (BTC) and Ethereum (ETH) weighed down on the value of AUMs,” says Fineqia CEO Bundeep Singh Rangar. “ETPs backed by BTC are 70.1 per cent of the total digital asset ETP market, compared to BTC’s 49.8 per cent weight in the overall digital asset market. This heightened dependency on BTC’s performance explains the negative delta for ETPs despite the inflow recorded in July.”

Bitcoin (BTC) price decreased 4.2 per cent in July, to USD29,200 from USD30,500 recorded on June 30. The AUM of ETPs holding BTC correspondingly decreased by 3.9 per cent, to USD23.8 billion from USD24.8 billion, according to Fineqia.

Similarly, Ethereum (ETH) fell 4 per cent in value to USD1,854 from about USD1,930. ETH denominated ETPs AUM, about 22 per cent of the overall market, decreased 3 per cent to USD7.6 billion on July 31, compared with USD7.8 billion a month earlier.

Fineqia finds that the opinion ruling last month in the SEC v. Ripple Labs by a US District Court in favour of Ripple (XRP) led to an increase in AUM for some altcoins and helped maintain the positive trend for ETPs after the multiple BTC spot ETF filed in June.

ETPs representing a basket of cryptocurrencies rose 1.9 per cent in AUM, almost reaching a total value of USD1.5 billion.

In July, the AUM of ETPs holding Ripple (XRP) increased by 57 per cent, to USD76.8 million from USD49 million. Other altcoins such as Stellar (XLM), Solana (SOL) and Polygon (MATIC) increased in AUM respectively by 40 per cent, 39 per cent and 20 per cent. ETPs representing alternative coins index increased 3.2 per cent to USD1.08 billion from USD1.04 billion at the beginning of July.

Fineqia Research’s AUM calculation factors in the launch or closure of ETPs during any stated period. The number of tracked ETPs stood at 157 as of the end of June.

All references to price are quoted in USD, and the cryptocurrency prices are sourced from CoinMarketCap.

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