The total assets under management across all crypto exchange-traded products (ETPs) worldwide have risen 50% this month to nearly $44 billion. Among listed products, Grayscale’s bitcoin trust tops the list with the most assets under management while Bitwise’s fund was the best performing bitcoin product by market price over the last 30 days.

• Cryptocompare published its “Digital Asset Management Review” for the month of February on Friday. The report states that the total assets under management (AUM) across all exchange-traded products (ETPs) increased 50% to $43.9 billion from mid-January to Feb. 23.

• The price of bitcoin was above $50K on Feb. 23. It has since fallen to $46,876 at the time of writing, based on data from markets.Bitcoin.com.

• The crypto exchange-traded product with the most AUM was Grayscale Bitcoin Trust (GBTC) with $35 billion in assets under management, according to the report. As of Feb. 26, GBTC’s AUM has dropped to $30.72 billion due to the lower BTC price. Other listed crypto products with the most AUM include Grayscale’s Ethereum Trust, Litecoin Trust, and Bitcoin Cash Trust. The bitcoin fund by 3iq (QBTC) also made the top five list with $1.27 billion under management.

• Most of the investments into crypto exchange products are made by institutional investors, particularly hedge funds. In its Q4 2020 report, Grayscale wrote that “Institutions are here,” noting that institutions accounted for 93% of all its capital inflows during the period.

• As for exchange-traded notes (ETNs), ETC Group’s BTCE has the largest AUM with $1.01 billion. Wisdomtree’s BTCW came second with $314.8 million and 21shares’ ABTC with $257.8 million.

• The report also ranks exchange-traded certificates. XBT Provider by Coinshares’ Bitcoin Tracker Euro holds the highest AUM with $1.72 billion, followed by Bitcoin Tracker One with $1.06 billion.

• The best performing bitcoin exchange-traded product by market price over the last 30 days was Bitwise 10 Crypto Index Fund (BITW) with 156%, the report notes. Its performance exceeded both Cryptocompare’s CCCAGG BTC/USD Index performance (64%) and MVIS’ MVDA Index performance (48.9%).

• Furthermore, North America now has two bitcoin exchange-traded funds (ETF): Purpose Bitcoin ETF and Evolve Bitcoin ETF. The former accumulated $165 million on its first day of trading.

What do you think about investing in crypto exchange-traded products? Let us know in the comments section below.

Image Credits: Shutterstock, Pixabay, Wiki Commons, Cryptocompare

In Spain, an investment company has begun to promote what they called the “first crypto hedge fund.” The product has been registered in Malta by Avenue Investment Crypto, headed by a crypto advocate, Martin Huete.

Investments Allocated Mainly in Bitcoin and Ethereum

According to Infobae, the hedge fund “exclusively” targets qualified investors whose minimum investment starts at 100,000 euros ($120,600). However, anyone who would like to join the crypto hedge fund should prove to the firm that they hold assets for 750,000 euros ($904,900).

Although Avenue Investment Crypto just launched the product, it was created by the firm in 2019. Huete was appointed as the institutional relations manager amid the commercialization phase of the crypto hedge fund.

Within the portfolio offered by the firm, the total exposure of the crypto hedge fund ranges between 40% and 100% of the fund with investments in ethereum (ETH), bitcoin (BTC), and other undisclosed cryptos.

Still, the fiat serving as base currency fund is the euro, and Avenue Investment Crypto clarified all profits accrue.

Firm Expects to Raise $122 Million by the End of 2021

The people in charge of managing the crypto hedge fund are Arne Vaagen and Francisco Gordillo.

Vaagen co-founded the hedge fund Futuris with Brummer & Partners in 1999, with over 1,300 million euros under management. Also, Gordillo has 25-years’ experience in the banking sector, and since 2012, it has been studying the cryptocurrencies sector, said the firm.

Gordillo commented about the crypto hedge fund:

What we propose to the investor is that they keep a plot of the future; it is like investing in Wall Street in its founding moments, taking a position on the foundations of the future.

In the first instance, the investment company seeks to promote the fund across Spain, Portugal, and North Europe. Moreover, the second stage targets Latin America and the rest of Europe.

Avenue Investment Crypto expects to collect almost $122 million before the end of 2021. As of press time, they’ve raised over $24 million.

What are your thoughts on the idea of a crypto hedge fund? Let us know in the comments section below.

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A 177-year-old bank in Switzerland has enabled cryptocurrency trading within its services, with expectations to expand. Bordier & Cie SCmA added bitcoin and other cryptos to its list of services by partnering with a well-known domestic crypto player.

Bordier Customers Can Also Buy and Hold Other Cryptos

According to the announcement, the Swiss bank, founded in 1844, argued that a surge in demand from their clients encouraged them to include cryptocurrencies. Bordier & Cie SCmA management believes that they needed to diversify into “alternative asset classes such as digital assets.”

Bordier partnered with Sygnum Bank, one of the first Swiss crypto banks, to support the infrastructure management behind the crypto’s offering. It includes the custody of the private keys to control access to the cryptocurrencies and connect with liquidity providers.

With the new service, Bordier’s clients will have the possibility to buy, trade, and hold digital assets such as bitcoin (BTC), Ethereum (ETH), bitcoin cash (BCH), and tezos (XTZ). However, the banking institution seeks to expand further the offering.

Bitcoin Is the ‘New Digital Gold’

Mathias Imbach, Sygnum Bank’s Group CEO, commented on the implications that the announcement has for the current financial’s environment:

Bordier continues its 177-year tradition of safeguarding clients’ wealth for future generations by offering the ‘next generation’ of assets to its clients. Bordier’s timeless values and Sygnum Bank’s vision for Future Finance is a powerful combination in the changing financial landscape.

Bordier & Cie SCmA praised the total crypto market capitalization during the announcement, which increased almost four-fold in 2020. The Swiss bank also added:

In a portfolio context, cryptocurrencies’ high-growth and low-correlation to traditional assets makes them a powerful tool to enhance diversification and achieve superior risk-adjusted returns. Bitcoin, in particular, which many see as the new “digital gold” due to its ability to hedge against inflationary pressure, has seen strong institutional adoption as an alternative investment.

What do you think about this announcement coming from Switzerland? Let us know in the comments section below.

Image Credits: Shutterstock, Pixabay, Wiki Commons