Cryptocompare’s latest data shows that assets under management (AUM) of crypto investment products reached record lows during the month of June. The data also shows 21 Shares Short Bitcoin ETP as the only digital investment product that has recorded a positive 30-day return (30.8%) since June 23rd.
Three Arrows Capital Insolvency Factor
The AUM of crypto investment products fell to record lows in the month of June 2022, the latest data from Cryptocompare showed. According to the regulated comparison firm and data firm of digital assets, this fall in the AUM was mainly caused by the uncertainties around the future of crypto lending companies such as Three Arrows Capital.
Like the data shows, cryptocurrency exchange-traded funds (ETFs) had the most significant drop, a 52.0% decline to $ 1.31 billion in AUM. On the other hand, reliable products, which occupy 80.3% of the market, fell by 35.8%, ending the month at $ 17.3 billion. Exchanged goods (ETCs) and bills of exchange (ETNs) fell 36.7% and 30.6% to $ 1.34-billion and $ 1.61-billion, respectively. Summarizing the findings, Cryptocompare said:
All four product types made new record lows with Trust products recording the lowest AUM since December 2020, while ETC-AUM reached its lowest since October 2020. ETNs and ETFs followed, recording their lowest AUM since January 2021 and April 2021 respectively.
21 Shares Bucks Trend
Meanwhile, the report notes that 21 Shares Short Bitcoin ETP is the only digital investment product that recorded a positive 30-day return (30.8%) on June 23. As of June 27, the ETP had an AUM of $ 16.5 million. , which is. perpetual maximum for the product. After rising for three consecutive months, this ETP has emerged as one of the few products that seems to take advantage of the current market conditions, the report said.
In contrast to the 21 Shares, Target and Coinshares ETPs had the largest outflows BTC and ETH during the same period.
“Target Bitcoin ETF (BTCC) sold 18,170 BTC while 3iq Coinshares Bitcoin ETF (BTCQ) saw 7,384 BTC outflow from the fund (from June 24). Overall, the two recorded drops of 56.7% and 57.1% in AUM in June, respectively. Proshares Bitcoin Strategy ETF (BIT) saw the largest inflow after a purchase of 7,264 BTC during the month, ”noted the company’s report on digital assets.
The data also shows that 3iq Coinshares Ether ETF (ETHQ), which had an outflow of 26,499. ETH, recorded the largest outflow among ethereum products during the period. It was followed by a Purpose Ether ETF (ETHH), which saw an outflow of 24,409. ETH in June.
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