According to Cryptocompare statistics, the value of assets under management (AUM) of digital asset investment products rose to $28.3 billion in February, the highest figure since May 2022. This increase comes against the backdrop of increased U.S. Securities and Exchange Commission (SEC) enforcement actions against crypto industry players. Bitcoin and Ethereum continue to represent the majority of digital assets under management.
Highest AUM since May
The total U.S. dollar value of digital assets under management (AUM) in February increased to $28.3 billion from the January record of approximately $26.8 billion, the latest data from Cryptocompare shows. The latest total makes this “the highest AUM recorded since May 2022,” it added.
According to areportpublished by Cryptocompare, a provider of digital asset data, the increase in AUM was “indicative of investors’ bullish sentiment and growing appetite for digital assets.” The increased investor appetite for digital assets comes on the heels of a U.S. Securities and Exchange Commission (SEC)-led crackdown on industry players. He also said that this increase was against the backdrop of what he described as a “macroeconomic recession.”
As in the past, Bitcoin (BTC) and Ethereum (ETH) dominated the overall digital asset management in February.
“Assets under management (AUM) of bitcoin- and ethereum-based instruments increased by 6.06% and 1.72%, respectively, to reach $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,” the Cryptocompare report states.
As well as, the report also states thatBTCandETHdigital assets included in “other” and “basket” assets likewise “increased by 14.7% to $1.16 billion and 2.33% respectively up $413 million”.”
Grayscale still rules the roost
Meanwhile, Cryptocompare’s report noted that Grayscale remains the most dominant asset manager with $20.8 billion worth of digital assets under management; XBT Provider ($1.54 billion) and 21Shares ($1.38 billion) came in second and third, respectively. ($1.38 billion) in third place.
The correlation between digital asset investment products and traditional assets, it noted, “has recently stabilized and is expected to decline as innovation fuels interest in digital assets.”
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