{"id":18317,"date":"2023-03-04T08:48:07","date_gmt":"2023-03-04T08:48:07","guid":{"rendered":"https:\/\/crowdfundjunction.com\/blog\/digital-assets-under-management-5-25-higher-in-february-grayscale-still-most-dominant-player-featured-bitcoin-news\/"},"modified":"2023-03-04T08:48:07","modified_gmt":"2023-03-04T08:48:07","slug":"digital-assets-under-management-5-25-higher-in-february-grayscale-still-most-dominant-player-featured-bitcoin-news","status":"publish","type":"post","link":"https:\/\/crowdfundjunction.com\/blog\/digital-assets-under-management-5-25-higher-in-february-grayscale-still-most-dominant-player-featured-bitcoin-news\/","title":{"rendered":"Digital Assets Under Management 5.25% Higher in February \u2014 Grayscale Still ‘Most Dominant Player’ \u2013 Featured Bitcoin News"},"content":{"rendered":"

(Originally posted on : Bitcoin News )<\/b>
\n<\/p>\n

\n
\n<\/header>\n
\n\n<\/div>\n

The value of digital assets under management (AUM) for digital asset investment products in February rose to $28.3 billion, the highest number recorded since May 2022, according to Cryptocompare stats. The increase came against the background of rising U.S. Securities and Exchange Commission (SEC) enforcement actions against crypto industry players. Bitcoin and ethereum continue to account for the lion\u2019s share of the digital assets under management. <\/strong><\/p>\n

Highest AUM Since May<\/h2>\n

The total U.S. dollar value of digital assets under management (AUM) in February rose to $28.3 billion up from approximately $26.8 billion recorded in January, the latest Cryptocompare data has shown. The latest total makes this the \u201chighest AUM recorded since May 2022,\u201d the report added.<\/p>\n

According to a report<\/a> released by Cryptocompare, a digital asset data provider, the latest AUM increase \u201csignalled the bullish sentiment of investors and the increased appetite for digital assets.\u201d The increase in the investor\u2019s appetite for digital assets came against the backdrop of a U.S. Securities and Exchange Commission (SEC)-led crackdown on industry players. The report also noted that the increase came against the background of what it described as \u201cmacroeconomic setbacks.\u201d<\/p>\n

As has been the case in the past, bitcoin (BTC<\/a>) and ethereum (ETH<\/a>) accounted for the lion\u2019s share of all digital assets under management in February.<\/p>\n

\u201cThe assets under management (AUM) for Bitcoin and Ethereum-based products saw an increase of 6.06% and 1.72%, respectively, reaching $20 billion and $6.80 billion. As a result, these products now account for 70.5% and 24.0% of the total AUM market share,\u201d the Cryptocompare report said.<\/p>\n

The report also noted that just like BTC<\/a> and ETH<\/a>, digital assets that are included in the category of \u201cOther\u201d and \u201cBasket\u201d assets had similarly increased by \u201c14.7% to $1.16 billion and 2.33% to $413 million, respectively.\u201d<\/p>\n

Grayscale Still Rules the Roost<\/h2>\n

Meanwhile, the Cryptocompare report noted that Grayscale is still the most dominant asset management firm with $20.8 billion worth of digital assets under management. XBT Provider ($1.54 billion) and 21Shares ($1.38 billion) are ranked second and third, respectively.<\/p>\n

Concerning the correlation between digital assets investment products and traditional assets, the report noted that this had \u201crecently stabilized and is expected to decrease as innovation fuels interest for digital assets.\u201d<\/p>\n

What are your thoughts on this story? Let us know what you think in the comments section below. <\/strong><\/em><\/p>\n

\n
\n\n<\/div>\n
\n
\nTerence Zimwara <\/h6>\n

\nTerence Zimwara is a Zimbabwe award-winning journalist, author and writer. He has written extensively about the economic troubles of some African countries as well as how digital currencies can provide Africans with an escape route.

\n
\n
\n<\/a>
\n<\/span>
\n
\n
\n
\n<\/a>
\n<\/span>
\n
\n
\n
\n<\/a>
\n<\/span>\n<\/p>\n<\/div>\n<\/div>\n

Image Credits<\/b>: Shutterstock, Pixabay, Wiki Commons<\/em><\/p>\n

\n

Disclaimer<\/strong>: This article is for informational purposes only. It is not a direct offer or solicitation of an offer to buy or sell, or a recommendation or endorsement of any products, services, or companies. Bitcoin.com<\/a> 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.<\/p>\n<\/div>\n

\n