CryptoCompare has just released its latest Digital Asset Management Review, a monthly report that focuses on key developments in the global digital asset investment product landscape. The report tracks the adoption of these products by analysing assets under management, trading volumes, and price performance.
April has been a volatile month; Bitcoin set a new all-time high of $64,773 on the 14th but crashed to below $52,000 a few days later. Compared to March, trading volumes across all products have decreased by 5.3% to $706mn/day while total AUM has decreased 4.5% to $56bn. Ethereum has performed well, and now represents 13% of total AUM across all digital asset investment products.
Key takeaways:
- Total AUM decreased to $56bn while assets represented by ETNs grew 21.1% to $3.4bn
- ETH-based AUM grew to 16% of the total
- 21Shares’ BNB Tracker product saw the highest 30-day returns at 112%
AUM – Assets Under Management
AUM represented by Trust products (dominated by Grayscale) decreased by 7.4% to $47bn (84% of total AUM). Meanwhile AUM represented by ETCs (dominated by XBT Provider) decreased by 0.7% to 4.6bn (now 8% total). AUM represented by ETNs grew 21.1% to $3.4bn and now constitute 6% of total AUM.
Bitcoin’s share of AUM dropped by 2.9% to $43.8bn (78% of total AUM) while Ethereum’s share grew 30.5% to $8.96bn (now 16% of total AUM).
ETC Group’s BTCE product continues to control the largest AUM across all ETNs and ETFs at $1.3bn (up 3.6% since late March). This is followed by Purpose’s Bitcoin ETF with $1.05bn in AUM (up 26%). ABNB by 21Shares was the third largest ETN in April with an increase of 122.6% to $659mn AUM.
Trading Volumes
Aggregate daily volumes across all digital asset investment product types have decreased by an average of 5.3% in April 2021 compared to March 2021. Average daily volumes for April now stand at $706mn.
Price Performance
The highest performing product was 21Shares’ ABNB ETN product with 112% returns since March. This was followed by Grayscale’s Ethereum Classic Trust product (ETCG) with 62.9% returns.
ETH-based digital asset investment products performed well this month, with Grayscale’s ETHE experiencing the highest 30-day returns 40.2%. This was followed by XBT Provider’s Ethereum Tracker Euro product (ETH/EUR) and 3iQ’s Ethereum Fund (QETH.UN/USD) with 27.9% and 27.7% returns respectively.
BTC-based products generally underperformed, with losses ranging from 0.7% to 5.3% across the top products. Grayscale’s GBTC product experienced a 30-day loss of 5%, ETC Group’s BTCC experienced a loss of 4% and VanEck’s VBTC experienced a loss of 3.7%.
The MVDA index outperformed all Bitcoin-based digital asset investment products with 10.9% returns. The MVDA index is a market cap-weighted index that tracks the performance of a basket of the 100 largest digital assets. The index serves as a benchmark and universe for the other MVIS CryptoCompare Digital Assets Indices.
ETP News
Mar 31st 2021: Coinbase wins custody mandate for WisdomTree bitcoin ETP
Apr 14th 2021: WisdomTree Lists Bitcoin ETP on Deutsche Boerse as ETF
Apr 19th 2021: Bitcoin ETF from 3iQ and CoinShares, Canada’s 4th, Begins Trading on TSX
Apr 20th 2021: Purpose Investments Launches World’s First Ether ETF
Apr 21st 2021: 21Shares Successfully Completes Stock Split on Its Crypto ETPs
CryptoCompare Index Products
The MVIS CryptoCompare Digital Assets Indices family tracks the financial performance of the largest and most liquid digital assets and serves as the underlying platform for financial products globally. See all available indices here. Get in touch to learn more about how our indices can help you build innovative products.
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- Performance measurement and attribution
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- Asset allocation
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