Digital AUM Surged to $48.7 Billion in March, Average Weekly Flows Turn Negative – Finance Bitcoin News

In March, total assets under management (AUM), rose to $48.7billion, an increase of $43.9billion in January. The latest Crypto Compare data has revealed. The average daily trading volume fell 29.6%, to $259 millions during that period.

BTC and ETH Products lag behind

The latest Crypto Compare (CC) data shows that the aggregate value of digital assets under management (AUM), topped $48.7 Billion in March 2022. According to the latest data, this AUM represents an 11 percent increase (or $4.8 billion) over the January figure of $43.9 billion.

Crypto Compare reported that the rise in aggregate AUM occurred during a time when bitcoin and other ethereum-backed goods were slowing down. According to the report

It was interesting to note that Bitcoin and Ethereum-backed products lag behind other baskets, with a relative growth of 17.5% to $1.81bn, 9.46% and $773mn, respectively. BTC- and ETH-based ETPs were also created. [exchange-traded products]Only 7.7% of the increase was to $33.6 billion, and 9.1% (to $22.6bn), 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).”

A Negative Weekly Average Inflow

In terms of the average net weekly inflows observed in March, Crypto Compare, which is a Financial Conduct Authority (FCA) authorized benchmark administrator, said these had “turned negative again” in March. The average weekly net inflow was $9.9million during this time.

“Ethereum products saw the largest decline in weekly flows, averaging an outflow of $14.2mn per week. The next was bitcoin products which experienced an average weekly outflow of $2.5 million. 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 aggregate trading volume went down by 29.6% to $259 million. This drop, 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.

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Terence Zimwara

Terence Zimwara, a Zimbabwean journalist, writer and author who has been awarded the Zimbabwe Booker Prize. He is a prolific writer on the economic woes of African countries, as well as digital currencies that can be used to provide an escape path for Africans.