While the crypto market experiences one of the coldest downtrends, investment firms remain undaunted by the collapse. In the last 11 months, investment companies have launched a growing number of exchange-traded funds in hopes that cryptocurrencies will ultimately come out strong.
According to Morgan Stanley (NYSE:MS), ever since the bitcoin bear market started, a total of over 180 active crypto exchange-traded products (ETPs) and trust products have been released globally. In fact, a 70% decline in the total value of assets in the market dropping to $24 billion didn’t even hamper the rapid launch of these ETPs.
Morgan Stanley further added that more than 95% of the funds are currently counting on two major coins – Bitcoin and Ether.
Co-founder of crypto risk monitoring firm Solidus Labs, Chen Arad stated,
ETPs’ appeal derives from the fact that they enable exposure for digital assets on a regulated stock exchange. In turn, it protects retail and institutional investors from hacks and robbery, while allowing them to securely store their cryptocurrency.
Moreover, crypto investment products have acquired approximately $453 million in net inflows in 2022 with a major share going towards bitcoin, alongside investment pools concerning other significant cryptocurrencies.
The director of research at 21shares, Eliezer Ndinga confirmed that more asset is allocated towards “baskets that combine the top five or 10 crypto assets by market cap.”
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Source: Cryptocurrency - investing.com
