Report: Digital AUM Surged to $48.7 Billion in March, Average Weekly Flows Turn Negative

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 Lag Behind

According to the latest data from Crypto Compare (CC), the total aggregate digital assets under management (AUM) topped $48.7 billion in March 2022. This latest AUM number represents an increase of $4.8 billion, or 11.1%, from 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, Bitcoin and Ethereum backed products lagged behind others and basket, which saw the largest relative increase of 17.5% to $1.81bn and 9.46% to $773mn respectively. Meanwhile BTC and ETH based ETPs [exchange-traded products] rose only 7.7% (to $33.6bn), and 9.1% (to $12.6bn) 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).”

Negative Average Weekly Inflows

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. In this period, average net weekly inflows were averaging $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 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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