Crypto products were top ETF performers in February
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The news: Crypto-focused exchange traded funds (ETFs) were the best performing ETF asset class in February following the approval of US-listed Bitcoin ETFs in January.
The numbers: According to Betashare's latest ETF report the top three performing ETFs were crypto related with Global X21Shares Ethereum ETF up 51.1%, followed by Global X21Shares Bitcoin ETF (46.9%) and Betashares Crypto Innovators ETF (34.9%).
Munro Climate Change Leaders Fund and Global X S&P Biotech ETF were also top performers, up 21.3% and 14.2% respectively.
February also saw ETF assets under management grow 3.4% month on month, for a total monthly market cap increase of $6.3 billion, as the industry reached a new all-time high of $189.4 billion. Over the last 12 months the industry has grown by 35.5%, or $49.6 billion.
Meanwhile Magellan Financial Group, which saw shares rise last week after posting a reduction in net outflows for February, had the industry's highest net outflows at $232 million. The Magellan Global Fund was the largest ETF outflow at $145.5 million.
iShares, a collection of ETFs managed by BlackRock, topped net inflows at $1.1 billion.
The ETF with the highest inflow for the month was VanEck MSCI World Ex-Australia Quality ETF.
The context: The industry's continued growth has been driven by a combination in asset value appreciation and investor net inflows. Industry-wide net inflow gains were buoyed by further growth in international equities, which made up more than two-thirds of the month's flows.
February also saw 11 new funds launched, including five factors funds launched by iShares on CBOE and two Nasdaq variants by BetaShares.
The source: Betashares Australian ETF report
