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This is our monthly overview of select top Crypto ETPs by Assets Under Management (AUM). For the full subscription Crypto ETP report, please scroll down for details or contact us: info@digitalassetresearch.com.
For a PDF version of this report, please click here.
| Issuer | Name | Ticker | Domicile | Primary Exchange | Replication | Inception Date | AUM* | MoM Change |
|---|---|---|---|---|---|---|---|---|
| 21Shares | 21Shares Bitcoin ETP | ABTC | Switzerland | SIX | Physically Backed | 24-Feb-2019 | $686,767,000 | 37.82% |
| 3iQ | The Bitcoin Fund Class A | QBTC.U | Canada | TSX | Index | 9-Apr-2020 | $419,017,000 | 45.78% |
| CI Galaxy | CI Galaxy Bitcoin ETF | BTCX.B | Canada | TSX | Futures Backed | 5-Mar-2021 | $474,220,000 | 51.81% |
| CoinShares | CoinShares Physical Bitcoin | BITC | Jersey | SIX | Physically Backed | 19-Jan-2021 | $858,346,000 | 47.21% |
| ETC Group | ETC Group Physical Bitcoin | BTCE | Germany | XETRA | Physically Backed | 9-Jun-2020 | $1,441,471,000 | 38.54% |
| Evolve | Evolve Bitcoin ETF | EBIT | Canada | TSX | Index | 19-Feb-2021 | $202,323,000 | 57.89% |
| Hashdex | Hashdex Nasdaq Crypto Index ETF | HASH11 | Cayman | BSX | Index | 22-Apr-2021 | $488,136,000 | 45.44% |
| Invesco | Invesco Physical Bitcoin Fund | BTIC | Germany | XETRA | Physically Backed | 26-Nov-2021 | $202,041,000 | 45.83% |
| ProShares | ProShares Bitcoin Strategy ETF | BITO | United States | NYSE Arca | Futures Backed | 18-Oct-2021 | $2,633,081,324 | 54.30% |
| Purpose | Purpose Bitcoin ETF | BTCC | Canada | TSX | Physically Backed | 11-Feb-2021 | $1,900,000,000 | 46.15% |
| QR Capital | QR Capital Bitcoin ETF | QBTC11 | Brazil | B3 | Index | 24-Jun-2021 | $76,060,000 | 47.95% |
| SEBA | SEBA Bitcoin ETP | SBTCU | Guernsey | Euronext | Physically Backed | 9-Apr-2021 | $126,806,000 | 49.50% |
| Valour | Valour Bitcoin Zero ETP | BTC0 | Sweden | Euronext | Physically Backed | 15-Dec-2021 | $145,436,000 | 43.66% |
| VanEck | VanEck Bitcoin ETN | VBTC | Liechtenstein | Deutsche Boerse AG | Physically Backed | 19-Nov-2020 | $423,530,000 | 38.50% |
| WisdomTree | WisdomTree Bitcoin | BTCW | Jersey | SIX | Physically Backed | 14-Apr-2019 | $534,210,000 | 54.57% |
| XBT Provider | Bitcoin Tracker Euro | COINXBE | Sweden | Nasdaq OMX AB | Physical or Synthetic | 15-May-2015 | $1,223,015,000 | 45.39% |
Asset values as of 1-Mar-2024 based on publicly available data
Note: Fidelity, Grayscale, and iShares were excluded from the chart above due to substantial overall changes in their Month-over-Month AUM. Fidelity saw its AUM increase by ~$3.8B, Grayscale saw its AUM for GBTC increase by ~$6.8B, and iShares’ IBIT increased by ~$6.7B as it surpassed $10B.
Key Crypto ETP Vendors
A full breakdown of ETP service providers is available in DAR’s Crypto ETP and Institutional Product Report (paid).
Top 5 Fund Administrators by Products Covered
| Administrator | Number of Products |
|---|---|
| JTC Fund Solutions (Jersey) Limited | 28 |
| Apex Corporate & Advisory Services Ltd | 10 |
| Banco Genial SA | 6 |
| Formidium Corp | 6 |
| AMINA Bank AG, Zug, Switzerland | 5 |
Data as of 1 Mar 2024 based on publicly available information.
Top 5 Custodians by Products Covered
| Custodian Name | Number of Products |
|---|---|
| Coinbase Custody | 62 |
| Komainu (Jersey) Limited | 20 |
| Copper Technologies AG | 17 |
| Bank Frick & Co. AG | 11 |
| Gemini Trust Company, LLC | 11 |
Data as of 1 Mar 2024 based on publicly available information.
Top 5 Crypto Market Makers by Products Covered
| Market Maker | Number of Products |
|---|---|
| Flow Traders | 94 |
| GHCO (Goldenberg Hehmeyer LLP) | 35 |
| Jane Street Financial Limited | 14 |
| DRW Europe B.V. | 13 |
| Virtu Financial Ireland Limited | 8 |
Data as of 1 Mar 2024 based on publicly available information.
Crypto ETP & ETF Monthly Reports
Digital Asset Research (DAR) provides summary or in-depth details on exchange-traded crypto products and funds (ETPs and ETFs) in major markets as a research tool for market participants. All reports are available monthly.
| Crypto ETP Recap (Free) | Crypto ETP Report (Subscription) | Crypto ETP & Institutional Product |
|---|---|---|
| Overview of the select top Crypto ETPs by Assets Under Management (AUM) | Everything in the Crypto ETP Recap, plus: • Crypto ETP Details, including: ○ Issuer, Name, Ticker, and Domicile ○ Primary exchange ○ Inception date ○ AUM and Month-over-Month (MoM) change • Issuer total AUM and MoM change • Charts and graphs: ○ Average AUM and Total AUM by issuer ○ MoM change by issuer and asset ○ Asset % of issuer’s AUM • Breakdown by replication method • Breakdown by geography • Index provider information | Everything in the Crypto ETP Recap and Crypto ETP Report, plus: • Market comparisons to Grayscale and major digital assets • Open U.S. ETF filing details • BTC and ETH futures and options data from select crypto exchanges ○ Monthly average open interest ○ Monthly average volumes • Spreadsheet access to “Crypto ETP Details” • A full breakdown of ETP service providers |
DAR offers monthly Crypto ETP Reports that give comprehensive views with high-quality data. Contact us for details: info@digitalassetresearch.com or click here to sign up for the monthly free recap.
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