Home etfexpress.com Crypto ETP numbers keep astonishing with 21Shares’ Binance ETP returning over 1,000...

Crypto ETP numbers keep astonishing with 21Shares’ Binance ETP returning over 1,000 per cent YTD

Digital asset flows, as recorded by James Butterfill, Investment Strategist at CoinShares,  for the second week of April, reveal that digital asset investment products saw inflows of USD83 million last week, in a week that saw no outflows across providers since mid-February 2021. 

Digital asset investment products saw inflows of USD55 million and USD22 million into bitcoin and ether respectively, while multi-asset digital investment products saw inflows of USD8 million last week, the largest since late February.  

Butterfill comments that in recent weeks the firm has seen the daily trading turnover for bitcoin decline 33 per cent to USD 7.7 billion with a similar drop in digital asset investment products of USD23 million, due, the company believes, to ‘the lack of trading during Easter bank holiday rather than a decline in appetite.’  

Algo-Chain co-founder Allan Lane (pictured) comments on the figures and in particular the performance of some of the crypto ETP products year on year, saying: “With so many products on the market, and events moving so fast nowadays, I’m having to increasingly rely on our own ETF Playlist service to keep abreast of what is happening.  

“So, imagine my astonishment this week when on the Crypto Currency Playlist the 21Shares Binance BNB ETP, which is listed on the Six Swiss Exchange, was showing a year-to-date performance of over 1,000 per cent.  Investors seem to think that Binance might be one of the next digital asset platforms to IPO.  Let’s not forget this is all in the same period when both Goldman Sachs and Morgan Stanley have indicated digital assets would be offered to their wealth management clients. Game on.” 

newETFs.io respects the hard work of others and gives all credit to the remarkable folks at ETFexpress.com. This excerpt/article was pulled from their RSS feed; click here to view the original. Please note that on occasion, the RSS feed will not have the author. When this happens this site defaults the author to "News". Make no mistake, this excerpt/article was not created by newETFs.io, it was simply shared with you.