Crypto Investment Product AUM Down 55% in 2022

Equities peaked in early January 2022, setting markets up for sharp declines over the rest of the year


Overearth/ modified by Blockworks


As the year comes to a close, crypto investment product issuers are ending 2022 in a worse position than they started. 

In 2022, digital asset investment vehicles lost more than 55% in assets under management (AUM) from their peak at the beginning of the year, according to data from research firm CryptoCompare.

“Due to the current state of panic in the market following the collapse of FTX, and rumors of similar problems at Binance, average weekly net outflows from digital asset investment products reached -$9.5 [million] in December, the highest level recorded since June 2022,” CryptoCompare analysts wrote in the report. 

AUM for crypto investment vehicles slightly recovered in December, with a 0.35% increase from November 2022. 

Investors continued to express the most interest in bitcoin and ether over the course of the year, with bitcoin investment products representing 69.7% of market share and ether products holding 25% of market share. 

“Bitcoin and Ethereum product AUMs are currently down 61% and 62.1%, respectively, from their peaks in March and April 2022,” analysts added. Bitcoin and ether prices have dropped a similar amount.

Traders were also most interested in crypto investment products in the form of ETFs, analysts noted. AUM represented by ETFs saw a rise of 5.96% to $1.78 billion in December 2022, representing 9.11% of the total market share. 

Similar to the broader spot market, bitcoin futures ETFs are down over the year. The ProShares Bitcoin Strategy ETF, which launched in October 2021, is down about 64% year to date. The Valkyrie Bitcoin Strategy ETF is down almost equally as much, losing 63% since January 2022. 

The 2022 end-of-year numbers for broader markets are skewed though, analysts point out, given the peak recorded across equity markets at the start of the year.

“By fluky coincidence, the all-time high in the S&P 500 happened to be Jan. 3, the very first trading day of 2022,” Blockworks newsletter writer Byron Gilliam wrote earlier this month. 

“So the year-to-date performance in equities conveniently doubles as the high-to-low performance of the bear market. That’s never happened before and it makes all the YTD comparisons vs. history kind of meaningless: 2022 vs. any other calendar year is apples to oranges.”

Start your day with top crypto insights from David Canellis and Katherine Ross. Subscribe to the Empire newsletter.

The Lightspeed newsletter is all things Solana, in your inbox, every day. Subscribe to daily Solana news from Jack Kubinec and Jeff Albus.


Upcoming Events

Salt Lake City, UT

MON - TUES, OCT. 7 - 8, 2023

Blockworks and Bankless in collaboration with buidlbox are excited to announce the second installment of the Permissionless Hackathon – taking place October 7-8 in Salt Lake City, Utah. We’ve partnered with buidlbox to bring together the brightest minds in crypto for […]

Salt Lake City, UT

WED - FRI, OCTOBER 9 - 11, 2024

Pack your bags, anon — we’re heading west! Join us in the beautiful Salt Lake City for the third installment of Permissionless. Come for the alpha, stay for the fresh air. Permissionless III promises unforgettable panels, killer networking opportunities, and mountains […]

recent research

Research Report Cover Vertex.jpg


The proliferation of new perp DEXs has led to fragmented liquidity across various DEXs and chains. Vertex, known for its vertically-integrated DEX that includes spot, perpetual, and integrated money markets, is now tackling cross-chain liquidity fragmentation through horizontal integration with the launch of new Edge instances. Vertex's integrated offerings and cross-margined account structure amplify the benefits of new instances: native cross-chain spot trading, optimized cross-chain basis trading, consistent interest rates, reduced bridging friction, and more.


Partnering with EtherFi and Angle, the fully on-chain perp DEX features bespoke collateral



Gavin Wood introduced the next evolutionary step for the Polkadot network: the Join-Accumulate Machine, or JAM


The side events were the places to be at Consensus 2024, according to attendees


Also, who’s come out swinging in the spot ether ETF fee war — and who could undercut them


I know it is not in their nature, but US regulators could learn a lot by researching the digital asset frameworks that overseas regulators have already gotten right


Also, the ETF hype train can count out at least one member