Bitcoin ETF Trends Make AUM Crypto Investment Products Rise to US$33.4 Billion

Bitcoin ETF Trends Make AUM Crypto Investment Products Rise to US$33.4 Billion

The CCData digital asset management report on June 28 2023 revealed that digital assets Under Management (AUM) jumped 69.05% this year. June 2023 experienced a 9.05% increase to US$33.4 billion.

AUM is the total market value of the investments managed by the investment manager. AUM fluctuates to reflect the flow of money into and out of the fund and the performance of asset prices.

In June, the digital market for Bitcoin-based products experienced a significant surge, AUM increasing by 12.4% to US$24.4 billion.

This resulted in Bitcoin-based products gaining a market share of 73.1%, an increase of 3.0% from 70.1% in May.

On the other hand, Ethereum-based products saw a relatively smaller increase of 2.68%, leading to a market share of 23.1% (down from 24.5% in May).

Institution Interested in Bitcoin ETF

This increase in AUM, according to reports, is strongly suspected due to the trend of Bitcoin ETFs that are currently in demand by institutions.

1/ last week's @BlackRock spot Bitcoin ETF filing was big news!

but, it's not the only story. many of the largest financial institutions in the US are actively working to provide access to Bitcoin and more.

a quick glance – $27 trillion of client assets here! pic.twitter.com/azmHZmUL2a

— Meltem Demirors (@Melt_Dem) June 26, 2023

CoinShares Chief Strategy Officer Meltem Demirors highlighted that at least eight major financial institutions have signaled strides in the digital asset space.

Those financial institutions are BlackRock spot Bitcoin ETFs and crypto wealth management solutions Fidelity, JP Morgan, Morgan Stanley, Goldman Sachs, BNY Mellon, Invesco, and Bank of America.

“Many of the largest financial institutions in the US are actively working to provide access to Bitcoin and more,” he said.

The eight financial institutions manage at least US$27 trillion in funds, but it should be noted that this figure is an estimate of the total assets managed by the eight institutions and only a small portion is likely to be allocated to crypto investments.

Meanwhile, amidst the trending Bitcoin ETF, ProShares Bitcoin Strategy ETF (BITO), a Bitcoin futures fund, saw an increase in capital inflows on June 26, with the most significant weekly inflows of a year at US$65.3 million.

Most recently, the Securities and Exchange Commission (SEC) has approved Volatility Shares for their 2x Bitcoin Strategy ETF (BITX), marking the first leveraged Bitcoin futures ETF. This ETF launched on the Chicago Board Options (CBOE) BZX Exchange on Tuesday, June 27.