2023-03-11 05:37:38 ET
The cryptocurrency market is seeing another rough patch as prices tumble amid negative sentiment over collapsed crypto-friendly banks Silvergate Bank and Silicon Valley Bank.
But the decline witnessed in March comes after a slightly positive February when the cryptocurrency market capitalization topped $1 trillion. A study showed a slight increase in total assets under management during the month.
Researchers at Fineqia collected data from publicly available sources, the company notes. Companies that provided the data that informed the survey results include 21Shares AG, VanEck Associates Corp. and Grayscale Investment LLC.
Below is a summary of key crypto stats from the survey.
In February 2023, the total amount of cryptocurrency ETPs increased by 1% to reach $28 billion
According to statistics shared by Fineqia with Invezz, the global value of cryptocurrency ETPS (including crypto exchange trading funds (ETFs)) increased by 1% in a month. According to the company, between February 1, 2023 and March 1, 2023, the combined assets under management (AUM) of all crypto ETPs increased from $27.7 billion to $28 billion. bottom.
Global crypto market capitalization rose 1.5% in February, but fell 37% year-on-year
Compared to the global cryptocurrency ETP, the global cryptocurrency market capitalization rose 1.5% in the same month to exceed $1.7 trillion. However, despite ending above $1 trillion in February, cryptocurrency market capitalization in early March 2023 is down 37% year-on-year from the $1.7 trillion recorded on March 1, 2022. Did.
Number of listed ETPs decreased from 164 to 155
February saw a decline in the number of commodities traded on exchanges around the world, as data from Fineqia Research shows. Specifically, the total number of ETPs listed has been reduced from 164 to 155. Two major providers, Bitpanda GmbH and ETC Group, have suspended nine ETPs in total. Austria-based Bitpanda closed five ETPs, UK-based ETC Group suspended four ETPs, and both companies deleted his ETFs and ETNs (listed securities). (ETNs).
Bitcoin-denominated ETP AUM increased by 1% as price increased by 3%
Bitcoin (BTC/USD) briefly topped $25,000 in February before posting a 3% gain to end the month near $23,500. By comparison, the AUM of all BTC-denominated ETPs increased by 1% from $19 billion to $19.2 billion.
Ethereum-centric ETP rises 2.5%
ETP, which holds Ethereum (ETH/USD), surged 2.5% in global AUM from $6.7 billion to $6.85 billion. This happened when the price of Ether surged 4.5% to around $1,650 at the end of the month. According to Fineqia, his ETP in altcoins has remained mostly stable, while his AUM in a basket of digital assets has decreased by 1%.
Crypto ETP post-global AUM rose to $28 billion in February, Fineqia first appeared on Invezz.