Over 180 active crypto ETPs bet money on bitcoin (BTC) and Ether (ET), claims Morgan Stanley

Investment companies aren’t deterred by the drop, despite the crypto market going through one of the coldest downtrends.

Investment firms have introduced an increasing number of exchange-traded funds over the past 11 months in the expectation that cryptocurrencies will finally succeed.

Since the beginning of the bitcoin bear market, approximately 180 active crypto exchange-traded products (ETPs) and trust products have been released internationally, according to Morgan Stanley.

In fact, the speedy introduction of these ETPs was not even hampered by a 70% reduction in the market’s total asset value, which fell to $24 billion.

Morgan Stanley further stated that at the moment, Bitcoin and Ether account for more than 95% of the funds.

The allure of ETPs comes from the ability to expose digital assets on a regulated stock exchange. As a result, it safeguards institutional and retail investors from hacks and theft while enabling them to safely keep their money.

A big portion of the $453 million in net inflows for crypto investment products in 2022—as well as investment pools for other key cryptocurrencies—went to bitcoin.

Eliezer Ndinga, the director of research at 21shares, acknowledged that more money is being invested in “baskets that combine the top five or 10 crypto assets by market cap.”