The total assets under management (AUM) for crypto investment products declined forthe first time this year during this month (May), shedding 8.92% to reach $30.6 billion. On the contrary,investment surged by over 55.5% on a year-to-date (YTD) basis.
These areaccording to new data by digital asset data provider, CCDatapreviously known as CryptoCompare. CCData is also a benchmark administratorauthorized by the UK Financial Conduct Authority.
First Dropin Crypto Investment AUM
Accordingto CCData, the AUM for Bitcoin and Ether-based products dropped for thefirst time this month, falling 10.3% and 4.42%to $21.7 billion and $7.50 billion, respectively. As aresult of the decrease, the share of Bitcoin in the crypto-based product marketshrank to 70.9%, dropping from 72% in April. On the contrary, Ether’s market share rose slightly to 24.5%, which is up from 23.4% in the priormonth.
How assets under management shaped out for crypto investment products over the past few months
In line with the monthly drop in AUM, the average daily aggregate volumes of crypto investmentproducts also went downfor the second consecutive month. Additionally, the volumes shrank by 24.6% to $209 million.
“Thisdecline followed a period of relative stability in the market, characterised bydigital assets like Bitcoin trading within a narrow range,” CCData explained.“As a result, the digital asset industry witnessed its second lowest volume of2023, with volumes only higher than those re-recorded in January.”
‘OngoingGrowth amid Challenging Market Conditions’
However,despite recording the first monthly drop in 2023, the market’s YTDgrowth suggests “resilience and ongoing growth amidstchallenging market conditions,” CCData said.
In addition, the growthis a testamentthat the industry is seeing overall expansion along with “positive momentumand investor interest surrounding digital asset management,” the crypto dataprovider added.
In terms ofperformance by companies in the market, investment management firm VanEck exhibited the highest increase in AUM during the month, followed by its rival CI Galaxy. VanEck’s AUM rose 2.25% to$334 million while its rival saw a decline of 3.45%to $523 million.
The top gainers in the crypto investment industry in recent months
However, ona YTD basis, GI Galaxy is the frontrunner, with total assets under its managementdoubling to 118%. This was followed by ProShares and ETC Group with 80.1% and71.5% increases in AUM, respectively.
Furthermore,while Grayscale saw its AUM retreat 8.66% to $23 billion in May, the digitalasset management firm remains the biggest player in the crypto products market.Also, when compared YTD, the company’s AUM jumped 57.6% for this month.
Options’ Paris office; BidX’s new Liquidity Manager; read today’s news nuggets.
The total assets under management (AUM) for crypto investment products declined forthe first time this year during this month (May), shedding 8.92% to reach $30.6 billion. On the contrary,investment surged by over 55.5% on a year-to-date (YTD) basis.
These areaccording to new data by digital asset data provider, CCDatapreviously known as CryptoCompare. CCData is also a benchmark administratorauthorized by the UK Financial Conduct Authority.
First Dropin Crypto Investment AUM
Accordingto CCData, the AUM for Bitcoin and Ether-based products dropped for thefirst time this month, falling 10.3% and 4.42%to $21.7 billion and $7.50 billion, respectively. As aresult of the decrease, the share of Bitcoin in the crypto-based product marketshrank to 70.9%, dropping from 72% in April. On the contrary, Ether’s market share rose slightly to 24.5%, which is up from 23.4% in the priormonth.
How assets under management shaped out for crypto investment products over the past few months
In line with the monthly drop in AUM, the average daily aggregate volumes of crypto investmentproducts also went downfor the second consecutive month. Additionally, the volumes shrank by 24.6% to $209 million.
“Thisdecline followed a period of relative stability in the market, characterised bydigital assets like Bitcoin trading within a narrow range,” CCData explained.“As a result, the digital asset industry witnessed its second lowest volume of2023, with volumes only higher than those re-recorded in January.”
‘OngoingGrowth amid Challenging Market Conditions’
However,despite recording the first monthly drop in 2023, the market’s YTDgrowth suggests “resilience and ongoing growth amidstchallenging market conditions,” CCData said.
In addition, the growthis a testamentthat the industry is seeing overall expansion along with “positive momentumand investor interest surrounding digital asset management,” the crypto dataprovider added.
In terms ofperformance by companies in the market, investment management firm VanEck exhibited the highest increase in AUM during the month, followed by its rival CI Galaxy. VanEck’s AUM rose 2.25% to$334 million while its rival saw a decline of 3.45%to $523 million.
The top gainers in the crypto investment industry in recent months
However, ona YTD basis, GI Galaxy is the frontrunner, with total assets under its managementdoubling to 118%. This was followed by ProShares and ETC Group with 80.1% and71.5% increases in AUM, respectively.
Furthermore,while Grayscale saw its AUM retreat 8.66% to $23 billion in May, the digitalasset management firm remains the biggest player in the crypto products market.Also, when compared YTD, the company’s AUM jumped 57.6% for this month.
Options’ Paris office; BidX’s new Liquidity Manager; read today’s news nuggets.
