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 $30.6 billion in May.

‍Key takeaways:

• CI Galaxy emerged as the frontrunner so far this year, experiencing a remarkable 118% increase in AUM.
• May saw the first 2023 drop in AUM for Bitcoin and Ethereum products, down by 10.3% and 4.42% respectively.
• VanEck recorded the highest increase in AUM in May, rising 2.25% to $334 million, followed by CI Galaxy which recorded a decrease of 3.45% to $523 million.
• 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.