ETPs With Cryptos Increase
Exchange traded products (ETPs) worldwide that have cryptocurrencies as underlying assets increased 50 per cent to 162 from 109 in 2022, even as their assets under management (AuM) decreased 66 per cent, mirroring the 64 per cent fall in cryptocurrency market values during the same period, says Fineqia International Inc. Its research reveals that the number of ETPs increased by 53 to 162 in December. Conversely, their total AuM declined to $20 billion from $58.5 billion in 2022. The price of Bitcoin (BTC) dropped by 65 per cent, while Ethereum (ETH) decreased by 68 per cent during 2022. For the month of December, the AuM of ETPs decreased by five per cent, while the value of the cryptocurrency market dropped eight per cent to about $800 million. That implied a total decline of 64 per cent in 2022 from $2.2 trillion last January.