YOU ARE RESPONSIBLE FOR DETERMINING WHETHER ANYTHING CONTAINED HEREIN IS SUITABLE FOR YOUR PARTICULAR CIRCUMSTANCES, AND FOR SEEKING PROFESSIONAL TAX, LEGAL, AND/OR INVESTMENT ADVICE AS APPROPRIATE. PLEASE SEE THE OTHER DISCLAIMERS AT THE END OF THIS REPORT.
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 | $269,724,000 | 4.09% |
| 3iQ | The Bitcoin Fund Class A | QBTC.U | Canada | TSX | Index | 9-Apr-2020 | $188,896,000 | 6.45% |
| CI Galaxy | CI Galaxy Bitcoin ETF | BTCX.B | Canada | TSX | Futures Backed | 16-Apr-2021 | $177,220,000 | 9.01% |
| CoinShares | CoinShares Physical Bitcoin | BITC | Jersey | SIX | Physically Backed | 19-Jan-2021 | $300,539,000 | 7.24% |
| ETC Group | ETC Group Physical Bitcoin | BTCE | Germany | XETRA | Physically Backed | 9-Jun-2020 | $525,225,000 | 20.16% |
| Hashdex | Hashdex Nasdaq Crypto Index ETF | HASH11 | Cayman | BSX | Index | 22-Apr-2021 | $224,432,000 | 4.55% |
| Invesco | Invesco Physical Bitcoin Fund | BTIC | Germany | XETRA | Physically Backed | 26-Nov-2021 | $83,980,000 | 6.32% |
| ProShares | ProShares Bitcoin Strategy ETF | BITO | United States | NYSE Arca | Futures Backed | 19-Oct-2021 | $893,345,000 | –2.35% |
| Evolve | Evolve Bitcoin ETF | EBIT | Canada | TSX | Index | 19-Feb-2021 | $86,458,000 | 10.85% |
| Purpose | Purpose Bitcoin ETF | BTCC | Canada | TSX | Physically Backed | 11-Feb-2021 | $698,000,000 | 13.73% |
| QR Capital | QR Capital Bitcoin ETF | QBTC11 | Brazil | B3 | Index | 24-Jun-2021 | $28,350,000 | 7.06% |
| Valour | Valour Bitcoin Zero ETP | BTC0 | Sweden | Euronext | Physically Backed | 15-Dec-2021 | $61,223,000 | 7.72% |
| SEBA | SEBA Bitcoin ETP | SBTCU | Guernsey | Euronext | Physically Backed | 9-Apr-2021 | $52,590,000 | 7.55% |
| VanEck | VanEck Bitcoin ETN | VBTC | Liechtenstein | Deutsche Boerse AG | Physically Backed | 19-Nov-2020 | $167,910,000 | 8.26% |
| WisdomTree | WisdomTree Bitcoin | BTCW | Jersey | SIX | Physically Backed | 14-Apr-2019 | $187,532,000 | 7.73% |
| XBT Provider | Bitcoin Tracker Euro | COINXBE | Sweden | Nasdaq OMX AB | Physical or Synthetic | 15-May-2015 | $544,172,000 | 7.38% |
Asset values as of 9 Oct 2023 based on publicly available data.
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 | 6 |
| Vórtx Distribuidora de Títulos e Valores Mobiliários Ltda | 5 |
| Apex Corporate Services (Schweiz) GmbH | 4 |
| Apex Corporate Trustees (UK) Limited | 3 |
Data as of 1 Oct 2023 based on publicly available information.
Top 5 Custodians by Products Covered
| Custodian Name | Number of Products |
|---|---|
| Coinbase | 57 |
| Komainu Jersey Ltd | 20 |
| Cidel Trust Company | 13 |
| Gemini Trust Company | 13 |
| BitGo Trust Company, Inc | 8 |
Data as of 1 Oct 2023 based on publicly available information.
Top 5 Crypto Market Makers by Products Covered
| Asset Name | Number of Products |
|---|---|
| Flow Traders | 83 |
| GHCO (Goldenberg Hehmeyer LLP) | 24 |
| Jane Street Financial Limited | 14 |
| DRW Europe B.V | 9 |
| Lang & Schwarz | 5 |
Data as of 1 Oct 2023 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.
DISCLAIMERS
You are permitted to store, display, analyze, modify, and print this report, but only for your own use. You are not permitted to (a) reverse engineer, decompile, decode, decrypt, disassemble, or in any way derive source code from this report; (b) modify, translate, adapt, alter, or create derivative works from this report; (c) copy (except as expressly permitted in the Subscription Services Agreement), distribute, publicly display, transmit, sell, rent, lease or otherwise exploit this report or grant any third party access to it; (d) frame or scrape or in-line link to the this report or use web crawlers, web spiders or other automated means to access, copy, index, process and/or store any of the information herein; (e) create apps, extensions, programs or other products or services that use any of the information herein; or (f) make or have made a service or product using similar ideas, features, functions or graphics of or providing a similar benefit as that provided by this report.
DAR DOES NOT MAKE AND HEREBY EXPRESSLY DISCLAIMS ALL WARRANTIES, ORAL OR WRITTEN, EXPRESS OR IMPLIED, INCLUDING WARRANTIES OF NON-INFRINGEMENT, MERCHANTABILITY, AND FITNESS FOR A PARTICULAR PURPOSE. WITHOUT LIMITING THE FOREGOING, YOU AGREE THAT YOUR USE OF THIS REPORT IS AT YOUR SOLE RISK AND ACKNOWLEDGE THAT THIS REPORT IS PROVIDED “AS-IS” AND DAR DOES NOT MAKE ANY WARRANTIES WITH RESPECT TO THE OPERATION, AVAILABILITY, RELIABILITY, ORIGINALITY OR ADEQUACY OF THE SAME. THIS REPORT (INCLUDING ANY INFERENCES OR CONCLUSIONS DRAWN HEREIN) IS BASED ON INFORMATION DAR CONSIDERS RELIABLE, HOWEVER, DAR DOES NOT REPRESENT IT AS ACCURATE OR COMPLETE, AND IT SHOULD NOT BE RELIED ON AS SUCH. THIS REPORT (INCLUDING ANY INFERENCES OR CONCLUSIONS DRAWN HEREIN) IS PROVIDED FOR GENERAL INFORMATIONAL PURPOSES ONLY AND YOU ARE RESPONSIBLE FOR DETERMINING WHETHER ANYTHING CONTAINED HEREIN IS SUITABLE FOR YOUR PARTICULAR CIRCUMSTANCES, AND FOR SEEKING PROFESSIONAL TAX AND/OR INVESTMENT ADVICE AS APPROPRIATE. DAR DOES NOT GIVE TAX, LEGAL OR INVESTMENT ADVICE OR ADVOCATE THE PURCHASE OR SALE OF ANY SECURITY, INVESTMENT, CRYPTOCURRENCY OR DIGITAL ASSET. NONE OF THE INFORMATION CONTAINED IN THIS REPORT CONSTITUTES OR IS INTENDED TO CONSTITUTE A RECOMMENDATION BY DAR TO ACQUIRE, HOLD, INVEST IN, OR USE ANY PARTICULAR COIN, TOKEN, CRYPTOCURRENCY, PROTOCOL, COMPANY OR FOUNDATION.
You assume the entire risk of any use you make or permit to be made from this report. Without limiting the foregoing and to the maximum extent permitted by applicable law, in no event shall DAR have any liability regarding this report for damages, even if notified of such possibility.
The information contained herein is as of the date hereof and is subject to change without prior notice. We may provide oral or written market commentary or trading strategies to our clients that reflect opinions that are contrary to the opinions expressed in this research. Information containing any historical information, data or analysis should not be taken as an indication or guarantee of any future performance as past performance does not guarantee future results. None of DAR’s products or services recommend, endorse, or otherwise express any opinion regarding any “coin”, “token”, “cryptocurrency” “protocol”, “company” or “foundation” and none of DAR’s products or services are intended to constitute investment advice or a recommendation to make (or refrain from making) any kind of investment decision and may not be relied on as such.