The value of digital assets under management (AUM) for digital asset investment products in February rose to $28.3 billion, the highest number on record since May 2022, according to Cryptocompare statistics. The increase came against the backdrop of increasing US Securities and Exchange Commission (SEC) enforcement actions against crypto industry players. Bitcoin and ethereum continue to represent the largest share of digital assets under management.
Highest AUM since May
The total US dollar value of digital assets under management (AUM) in February rose to $28.3 billion from roughly $26.8 billion in January, the latest data from Cryptocompare shows. The latest total makes it the “highest AUM on record since May 2022,” the report added.
according to a report Posted by Cryptocompare, a digital asset data provider, the latest AUM rise “signaled investor bullish sentiment and increased appetite for digital assets.” The surge in investor appetite for digital assets came against the backdrop of a US Securities and Exchange Commission (SEC)-led crackdown on industry players. The report also noted that the increase came against the backdrop of what it described as “macroeconomic setbacks.”
As has been the case in the past, bitcoin (BTC) and ethereum (ETH) accounted for the largest share of all digital assets under management in February.
“Assets Under Management (AUM) for Bitcoin and Ethereum-based products saw an increase of 6.06% and 1.72%, respectively, reaching $20 billion and $6.8 billion. As a result, these products now account for 70.5% and 24.0% of the total AUM market share,” says the Cryptocompare report.
The report also noted that like BTC and ETHdigital assets that fall under the “Other” and “Basket” category of assets had similarly risen by “14.7% to $1.16 billion and 2.33% to $413 million, respectively.”
Grayscale still rules the roost
Meanwhile, Cryptocompare’s report noted that Grayscale remains the most dominant asset management company with $20.8 billion in digital assets under management. XBT Provider ($1.54 billion) and 21Shares ($1.38 billion) rank second and third, respectively.
Regarding the correlation between digital asset investment products and traditional assets, the report noted that this had “recently leveled off and is expected to decline as innovation fuels interest in digital assets.”
What are your thoughts on this story? Let us know what you think in the comments section below.
image credits: Shutterstock, Pixabay, Wiki Commons
Disclaimer: This article is for informational purposes only. It is not a direct offer or a solicitation of an offer to buy or sell, or a recommendation or endorsement of any product, service or company. bitcoin.com does not provide investment, tax, legal or accounting advice. Neither the company nor the author is responsible, directly or indirectly, for any damage or loss caused or alleged to be caused by or in connection with the use of or reliance on any content, goods or services mentioned in this article.
