In the first half of this year, 37 new crypto exchange-traded funds (ETFs) and exchange-traded products (ETPs) were listed globally with a total of 877 new products launched, according to the research firm ETFGI.
The 37 new crypto ETFs and ETPs show there is growing interest and investment in digital assets. This latest surge in new listings marks a new record. It surpassed the previous high of 808 new ETFs launched in the same period of 2021.
After taking into consideration the number of closures, the first half of the year saw a net increase of 624 products, with 253 ETFs closing during this period, notes ETFGI.
Many crypto products allow investors to gain exposure to digital currencies without directly owning the underlying assets, providing a convenient and regulated way to participate in the crypto market.
U.S. Market Leads With Number of New Launches (and Closures!)
In January, the Securities and Exchange Commission (SEC) finally approved a range of spot Bitcoin ETF applications. In July a bunch of of spot Ethereum ETFs were also approved.
BlackRock continues to dominate the market in terms of new listings. BlackRock listed 44 new products and is the world’s largest ETF manager by AUM. The latest figures show the firm manages $3.5 trillion in global ETF investment vehicles as of December 31, 2023.
The U.S. led the charge with 297 new products, followed closely by the Asia Pacific region (excluding Japan) with 281, and Europe with 147. The U.S. also experienced the highest number of closures, with 91 ETFs shutting down, compared to 55 in the Asia Pacific region and 53 in Europe.
The distribution of new launches varies across regions, reflecting the global reach and diverse market interests in ETFs and ETPs. There are a total of 219 providers that contributed to the new listings. This shows the increasing competition in the ETF market.
The ETFs and ETPs are available across 35 exchanges globally, offering investors a range of different strategies and asset classes. The 182 closures were linked to 73 providers across 29 exchanges. This shows there is continuous evaluation of the products.
Data shows the new ETFs and ETPs include a diverse mix of investment strategies. There are 355 active funds, 296 track equity indexes, and 92 follow fixed-income indexes.
ETFGI reports active funds, in particular, are gaining traction as investors seek to outperform market benchmarks through skilled management and strategic asset allocation.
The launch of 37 new crypto ETFs and ETPs in the first half of 2024 also shows the increasing acceptance of crypto as part of diversified investment portfolios. The products have seen huge interest from both institutional and retail investors alike.
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