Oct 02, 2023
Market Recap: September 2023
Crypto Breaks Negative Seasonality Dynamics
Key takeaways for the month:
- September brought overall positive developments for the crypto market. Bitcoin prices trended upwards, with our CME CF Bitcoin Reference Rate (BRR) briefly surpassing the $27,000 threshold in mid-September after the news that Franklin Templeton, another premier asset manager, filed for a spot Bitcoin ETF.
- Tokens related to decentralized finance (DeFi) led gains, increasing over 10% as major assets in this category recovered following underperformance the previous month. This rebound aligned with rising total value locked (TVL), a key metric of the DeFi market's size. A similar recovery in investor sentiment played out for blockchain infrastructure tokens, with our CF Blockchain Infrastructure Index climbing over 9%.
- Ether futures saw mounting interest ahead of an expected ETH futures ETF launch, with total open interest increasing almost 13% in September.
Monthly Index Performance
To read the complete report, kindly click on the provided link (or click here to view a PDF version). Additionally, please do not forget to subscribe to our latest news and research for the most relevant institutional insights on digital assets and the top digital assets by market cap.
The information contained within is for educational and informational purposes ONLY. It is not intended nor should it be considered an invitation or inducement to buy or sell any of the underlying instruments cited including but not limited to cryptoassets, financial instruments or any instruments that reference any index provided by CF Benchmarks Ltd. This communication is not intended to persuade or incite you to buy or sell security or securities noted within. Any commentary provided is the opinion of the author and should not be considered a personalised recommendation. Please contact your financial adviser or professional before making an investment decision.
Note: Some of the underlying instruments cited within this material may be restricted to certain customer categories in certain jurisdictions.
CF Benchmarks Newsletter Issue 95
US crypto ETF flows rebound after a few tense weeks of losses; the SEC prepares more pivotal rulemaking for listed crypto products; and, summarized: CF Benchmarks exclusive CME Bitcoin Basis research.
Ken Odeluga
Bitwise EU quietly builds leading staking-ETP franchise
We explore how Bitwise EU has staked out a leading position in the emerging staking ETP product class – a position that is set to drive continued adoption by mainstream investors.
Ken Odeluga
SEC preps Digital Asset Sandbox
The latest piece on the docket arises out of Atkins’ goal of modernizing “securities rules and regulations to enable America’s financial markets to move on-chain”. And the recognition that entities undertaking these innovations have often fallen foul of existing regulations.
Ken Odeluga