Global digital asset ETPs dip 4% in May as Ethereum weakness offsets altcoin strength

Global digital asset trade traded merchandise (ETPs) closed May 2026 with complete belongings beneath administration (AUM) of $130.9 billion, down 4% on the finish of April, in keeping with analysis from Fineqia International Inc (CSE:FNQ).

The decline partially reversed April’s rebound and confirmed that market situations remained uneven following the first-quarter sell-off.

The broader digital asset market additionally retreated, with complete market capitalization falling 2% to $2.57 trillion, which means ETP AUM underperformed the underlying market and pointed to weaker demand for regulated digital asset publicity throughout the month.

On a year-to-date foundation, complete crypto ETP AUM remained down 20.2% from $164.2 billion at end-2025, in contrast with a 15.5% decline in complete digital asset market capitalization over the identical interval.

Bitcoin-backed ETPs ended May with $108 billion in AUM, down 3.4% from $111.8 billion in April, broadly monitoring BTC’s 3.6% value decline to $73,580.

Fineqia senior analysis analyst Matteo Greco famous the shut alignment between value efficiency and AUM suggests May was “primarily value pushed for the Bitcoin section, with broadly impartial stream dynamics,” contrasting with stronger inflow-driven intervals seen in 2024 and components of 2025. Bitcoin retained roughly 82.5% of complete crypto ETP AUM at month-end.

Ethereum ETPs have been the weakest main section, with AUM falling 13.4% to $13.5 billion as ETH’s value declined 11.2% to $2,004. The steeper drop in AUM relative to cost efficiency pointed to continued outflow stress, with Ethereum ETPs down 37.5% year-to-date from $21.5 billion at end-2025. Ethereum’s share of complete crypto ETP AUM slipped to roughly 10.3% from 11.4% in April.

Altcoin and basket merchandise bucked the broader development. Altcoin ETP AUM rose 6.4% to $5.89 billion, whereas basket ETP AUM edged up 1.2% to $3.61 billion, suggesting selective threat urge for food could also be returning outdoors the 2 largest belongings.

Nevertheless, product issuance continued regardless of softer situations. “The continued growth in listed merchandise to 326 confirms that the structural growth of the crypto ETP market stays intact,” Greco wrote.

“The important thing issue to observe in the approaching months might be whether or not the strength in altcoin and basket merchandise broadens into sustained inflows throughout the bigger Bitcoin and Ethereum segments.”