Executive Summary: Digital Asset Management Review May 2023

CCData’s Digital Asset Management Review provides readers with an overview of the global digital asset investment product landscape. For the first time in 2023, the digital asset sector witnessed a decrease in the total assets under management (AUM) for digital asset investment products, with overall AUM shrinking by 8.92% to $30.6bn in May. Despite this dip, the year-to-date growth of AUM stands at 55.5%. Bitcoin and Ethereum-based products saw their first drop in 2023 recording a decline of 10.3% and 4.42%, respectively, reaching $21.7bn and $7.50bn. “Other” and “Basket” followed the same trend, recording a decline of 12.04% to $958mn and 8.09% to $434mn, respectively. Download the full report here . Key takeaways: CI Galaxy emerged as the frontrunner so far this year, experiencing a remarkable 118% increase in AUM. Followed closely by ProShares, with an 80.1% increase, and ETC Group with a 71.5% increase in AUM. May saw the first 2023 drop in AUM for Bitcoin and Ethereum products, down by 10.3% and 4.42% respectively. This shift reduced Bitcoin’s market share from 72.0% to 70.9% but increased Ethereum’s from 23.4% to 24.5%. VanEck recorded the highest increase in AUM in May, rising 2.25% to $334mn, followed by CI Galaxy which recorded a decrease of 3.45% to $523mn. Grayscale retained its position as the dominant player with products recording a total AUM of $23.0bn. Average daily aggregate volumes of digital asset investment products experienced a decline for the third consecutive month in May, resulting in a significant decrease of 24.6% to $209 million. This decline followed a period of relative stability in the market, characterised by digital assets like Bitcoin trading within a narrow range. Digital Asset Management Review Digital Asset Management Companies See Major YTD Increase in AUM Despite experiencing their first setback of 2023, digital asset management firms have showcased robust performance this year, with a rise in year-to-date (YTD) assets under management (AUM). CI Galaxy has set the pace this year, witnessing an impressive 118% surge in AUM. ProShares and ETC Group follow, with AUM increasing by 80.1% and 71.5%, respectively. https://medium.com/media/02bbda144b6b943902dc7dba94777cb8/href Average Daily Aggregate Volumes Experience Third Consecutive Monthly Decline In May, the digital asset investment products sector saw a continued downturn for the third month in a row, with the average daily aggregate volumes declining by 24.6% to $209mn. Following a spell of relative market stability, where digital assets such as Bitcoin traded within a confined range, this decline led the industry to its second-lowest volume for 2023. Only the volume registered in January fell below this level. https://medium.com/media/52e6d71add9e493feb7c20d970897e36/href Ethereum-based Products Gain Market Share as Bitcoin-based Products Decline The first decline in 2023 for Bitcoin and Ethereum-based product assets under management (AUM) was recorded in May, with respective drops of 10.3% and 4.42%, reducing their totals to $21.7bn and $7.50bn. This decline has impacted market shares: Bitcoin’s share slipped from 72.0% in April to 70.9% in May, while Ethereum’s rose from 23.4% to 24.5% over the same period. https://medium.com/media/abee01a0f6e232b487141c0883039795/href Looking for custom data or charting? Our monthly Digital Asset Management Review contains a summarised analysis of the latest movements in cryptocurrency markets. If you enjoy our reports, then we recommend signing up for our mailing list so you can receive all of our latest research straight to your inbox. Digital Asset Management Review Want to stay up to date with everything crypto? Subscribe to our mailing list and get our monthly research reports and insights delivered straight to your inbox. CCData’s suite of market-leading trade, order book, derivatives, blockchain, social, and historical data, spanning thousands of cryptocurrencies and 300+ exchanges, is also available via our API here: https://developers.cryptocompare.com/ Executive Summary: Digital Asset Management Review May 2023 was originally published in CCData on Medium, where people are continuing the conversation by highlighting and responding to this story.