In September, the markets continued to decline as the US Federal Reserve announced its decision to raise the interest rate by 75bps. This resulted in the price of crypto assets plummeting, with Bitcoin and Ethereum falling 4.77% and 15.9% in September (as of the 28th).

‍

September Highlights

• For the first time since September 2020, average daily volumes for all Exchange Traded Products (ETPs) listed in this report dropped below $100mn, falling 79.9% from 2022's high recorded in January.
• Short Bitcoin Products had the largest gains across all products with ProShares Short Bitcoin Strategy ETF (BITI) and 21Shares Short Bitcoin ETP (SBTC) seeing an increase of 43.9% and 25.4% respectively.
• After Ethereum's transition to Proof of Stake, Ethereum-based digital asset products witnessed one of their most challenging months with all products dropping more than 10.0% in the last 30 days.
• The major AUM drop among all products was recorded by 3IQ CoinShares ETHQ product, which lost 83.9% of its AUM during September.

‍