Crypto exchange-traded products hit bull run with $67B AUM

CoinShares reported that a record week of earnings from crypto-derived exchange-traded products (ETPs) pushed their combined assets under management to record highs since the last bull market in 2021.

Crypto investment products AUM now stands at $67 billion, “marking the highest level since December 2021,” CoinShares head of research James Butterfill said in a February 19 report, with AUM increasing year-over-year by $5.2 billion and positive crypto market price action.

This comes as crypto ETPs recorded a record $2.45 billion in revenue in the week ending February 16, with 99% of crypto ETPs listed in the United States, including 10 approved spot Bitcoin ETFs, which saw a “significant acceleration of net revenue”. said Butterfill.

BlackRock and Fidelity ETFs picked up $1.6 billion and more than $648 million, respectively, of the $2.3 billion in inflows last week.

“At the same time, the outflow from players has decreased significantly,” Butterfill said. Greyscale's products have seen $623 million in outflows each week — the issuer's Bitcoin (BTC) fund has seen more than $7 billion in outflows since Jan. 1 when the fund switched to ETFs.

Meanwhile, Bitcoin gained more than 4% between Monday, February 12 and Friday, February 16, according to Cointelegraph Markets Pro. It ended the week above $52,000 – a high not seen since December 2021.

Still, some investors are betting the price will fall and added $5.8 million in revenue to short-Bitcoin products.

Related: Bitcoin price keeps rising, but where are the new investors?

Ether (ETH) products saw a relatively small gain of $21 million and ended last week at around $2,800, with a high ending in May 2022.

Altcoin ETPs based on Avalanche (AVAX), Chainlink (LINK) and Polygon (MATIC) stand out as “we've consistently seen weekly flows this year,” Butterfill said — each seeing roughly $1 million in inflows.

Solana's ( SOL ) products saw $1.6 million in outflows, which Butterfull said in early February was stuck in a “sense of impact” from the network's latest downturn.

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