Digital assets exchange-traded product landscape: past, present and future

Digital Asset Exchange-Traded Products (ETPs) show rapid integration into traditional portfolios, with global AUM hitting $184 billion by the end of 2025, nearly 80% concentrated in the U.S. This growth is overwhelmingly driven by the launch of U.S. spot bitcoin ETFs in January 2024, which achieved $100 billion in assets in just 11 months—a pace far exceeding that of gold ETFs. The market remains highly concentrated, with Bitcoin products accounting for 78.2% of AUM, though Ether-based products are showing gradual growth. The pipeline indicates a future shift toward diversification, as multi-cryptocurrency ETP filings are increasing, mirroring typical ETF market maturation. Despite this expansion, broad adoption across major advisory platforms is still in early phases, suggesting significant future growth potential as the global ETF market approaches $30 trillion by 2030.

(Source：CoinDesk)