Digital Asset Product AUM Surges 70.7% YTD

CCData’s Digital Asset Management Review provides readers with an overview of the global digital asset investment product landscape. In April, the total assets under management (AUM) for digital asset investment products rose by 6.94% to reach $35.6 billion, marking the fifth consecutive month of growth in AUM. The year-to-date increase in AUM now stands at 70.7%, highlighting the renewed interest in digital assets amid failures within traditional finance and market turbulence. Download the full report here . Key takeaways: Bitcoin and Ethereum-based products saw an increase of 6.34% and 8.72%, respectively, reaching $24.2 billion and $7.85 billion AUM. The average daily aggregate product volumes across all digital asset investment products fell 27.2% to $277mn in April. This is the first decline in average trading volumes since December, however, volumes remain at an elevated level in comparison to the average trading volumes recorded in 2022. In April, net flows reversed their trend, recording weekly average net flows of $25.4mn — the highest since January 2023. BTC-based products continued their dominance and recorded a positive net flow of $30.78mn following significant outflows in March. 3iQ recorded the highest increase in AUM in April, rising 21.9% to $430mn, followed by 21Shares and ETC Group with a 12.6% increase to $1.28 billion and 12.05% increase to $647mn, respectively. Grayscale retained its position as the dominant player with products recording a total AUM of $25.2 billion. This marks a 6.74% increase in AUM compared to March 2023, although it recorded a slight decline in market share, decreasing from 75.1% in March to 74.9% in April. Despite experiencing notable growth in assets under management (AUM) after the successful Shapella Upgrade, Ethereum-based products are still far from dominating the AUM of digital assets, which is mostly controlled by BTC-based products. BTC-based products have increased their market share from 69.9% in January 2023 to 72.0% in April, whereas ETH-based products have remained relatively stable, decreasing slightly from 24.8% to 23.4%. Digital Asset Management Review Average Daily Aggregate Trading Volumes Reach Lowest Level Since December In April, the average daily aggregate product volumes across all digital asset investment products fell 27.2% to $277mn. This is the first decline in average trading volumes since December, however, volumes remain at an elevated level in comparison to the average trading volumes recorded in 2022. https://medium.com/media/724bcfdc95e4822207baa7dd4e54511b/href Bitcoin Dominance Continues Despite Boost in AUM for ETH-Based Products Despite experiencing notable growth in AUM following the Shapella Upgrade, Ethereum-based products are still far from dominating the AUM of digital assets, which is mostly controlled by BTC-based products. BTC-based products have increased their market share from 69.9% in January 2023 to 72.0% in April, whereas ETH-based products have remained relatively stable, decreasing only slightly from 24.8% to 23.4%. “Other” and “Basket” products have also remained low recording 3.24% and 1.40% in April. https://medium.com/media/0c058f4908885d8d642628f0653c43e1/href Short Bitcoin-Based Products Record Highest Weekly Outflows in 2023 In April, net flows reversed their trend, recording weekly average net flows of $25.4mn — the highest since January 2023. BTC-based products continued their dominance and recorded a positive net flow of $30.78mn following a significant outflow in March. Short Bitcoin-based products, however, recorded their highest weekly outflows in 2023, which could be attributed to the upward momentum of BTC and the significant price increase that occurred during April 2023. https://medium.com/media/e6a70f2155c29a36c8aeabf7dadfd84b/href https://medium.com/media/4a23d8929ecf766ebce5b280d24be62f/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/ Digital Asset Product AUM Surges 70.7% YTD was originally published in CCData on Medium, where people are continuing the conversation by highlighting and responding to this story.