Market Analysis Report (01 Jun 2022)

Cryptocurrency investment products have seen their assets under management plunge in May over falling cryptoassets prices in a sell-off exacerbated by the collapse of the Terra ecosystem, which saw LUNA and its algorithmic stablecoin become nearly worthless.

CryptoCompare’s latest Digital Asset Management Review details that last month, Bitcoin investment products’ assets under management fell 26.8% to $24 billion, but gained market share to now represent 70.1% of total assets under management.

Ethereum investment products, meanwhile, saw their assets under management fall 33.9% to $8.52 billion, while “other” and “basket” investment products fell 30.1% and 32.7% to $1.118 billion and $509 million respectively.

Every company saw their assets under management fall significantly last month, with the largest dollar value being Grayscale, which lost almost $10.6 billion in assets under management-.The largest percentage decrease belongs to Bitwise, which saw its AUM drop 33.8%.

Learn more via CryptoCompare’s Digital Assets Management Review.

Source