The cryptocurrency market experienced one of its worst crashes since the beginning of the year as almost $1.3 trillion in market capitalization was lost. Bitcoin fell more than 50% from its all-time high of $64.7k that was reached in April, falling to a monthly low of $31,133. Other major cryptocurrencies, like Ethereum, also crashed, which plummeted in excess of 50% from its all-time high of $4,380, falling to $1,730.

May Highlights

• Total AUM across all digital asset investment products decreased 20.2% to $44.7bn.
• BTC lost market share as alternative currencies grew to 31% of AUM.
• Average daily volumes grew 78.7% to $1.34bn.