The total aggregate digital assets under management (AUM) surged to $48.7 billion in March, up from the $43.9 billion that was recorded in January, the latest data from Crypto Compare has shown. In contrast, the average daily trading volumes fell by 29.6% to $259 million during this period.
BTC and ETH products are lagging behind
According to the latest data from Crypto Compare (CC), total aggregate digital assets under management (AUM) surpassed $48.7 billion in March 2022. This latest AUM figure represents an increase of $4.8 billion, or 11.1%, compared with the $43.9 billion recorded in January, the data shows.
In its report, Crypto Compare also noted the surge in the total aggregate AUM had coincided with a period when bitcoin and ethereum-backed products had lagged behind. The report explains:
Interestingly, the products backed by Bitcoin and Ethereum lagged behind the others and the basket, which saw the largest relative increase of 17.5% to $1.81 billion and 9.46% to $773. million dollars respectively. Meanwhile, ETPs based on BTC and ETH [exchange-traded products] rose only 7.7% (to $33.6 billion) and 9.1% (to $12.6 billion) respectively.
Further breaking down the data, Crypto Compare also said it had seen a change from previous months “with ETFs [exchange-traded funds] seeing the largest gain of 14.3% to $3.39bn (6.95% of total AUM).”
Negative average weekly collections
Regarding the average weekly net inflows seen in March, Crypto Compare, which is a benchmark administrator authorized by the Financial Conduct Authority (FCA), said that they had “turned negative again” in March. During this period, average weekly net inflows averaged $9.9 million.
“Ethereum products saw the largest decline in weekly flows, averaging an outflow of $14.2mn per week. This was followed by bitcoin products, which saw average weekly outflows of $2.5mn. The multi-asset based products saw the largest weekly inflow during March with $7.0mn,” the report said.
Meanwhile, according to CC’s latest digital asset management review, during this period the average daily trading volume decreased by 29.6% to $259 million. The decline, according to CC, was the “fifth consecutive month in which trading volumes failed to break this trend.”
Contributing to the significant decrease in the average daily aggregate trading volume was 3iq’s Ethereum Product (QETH), which fell 61.1% to $892K. Coinshares’ Physical Bitcoin Product (BITC) had a decline of 77.2% — translating to $469K — while XBT Provider’s Ether Tracker Euro (ETH/EUR) had biggest margin drop in exchange-traded commodities (ETCs) after it fell 44.5% to $3.19 million in March, the CC report said.
