Bitcoin AUM falls 9.5% to record largest monthly pullback since July

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While Bitcoin’s (BTC) status as a viable hedge against monetary inflation continues to attract investors, the new data reflects a shift in sentiment as Ethereum (ETH) and other cryptocurrency products gain traction against Bitcoin Assets Under Management (AUM).

The Bitcoin AUM market fell 9.5% to $ 48.7 billion in November, the largest monthly decline since July, according to a CryptoCompare report. On the other hand, altcoin-based cryptocurrencies like AUM ETH surged 5.4% to $ 16.6 billion.

Monthly funds managed by cumulative products. Source – CryptoCompare
As shown in the chart above, total assets under management across all digital investment products fell 5.5% to $ 70.0 billion, in line with the ongoing bear market as Bitcoin hit an all-time high above $ 65,000.

As a result of a drop of 9.5%, the Bitcoin AUM market accounts for 70.6% of the total AUM share. However, Ethereum-sponsored AUMs rose 5.4% to $ 16.6 billion, while AUMs representing other cryptocurrencies rose $ 2.6 billion.

By asset type. Source – CryptoCompare
Of the total AUM offer, products with shades of gray account for 76.8% of the AUM market. Grayscale trust products fell 6.8% to $ 54.5 billion. Other notable players include XBT Provider ($ 5.0B, 7.2% of the total) and 21Shares ($ 2.5B, 3.6% of the total), which can be seen from the chart below:

Assets under management of the company. Source – CryptoCompare
According to the report, the average weekly delivery of Bitcoin-based products in November was $ 94.4 million. Among other things, $ 67.8 million for Ethereum-based products brought in about $ 24.4 million, while Cardano and Tron-based products brought in $ 10.7 million and $ 10.5 million, respectively.

Related Topics: Morgan Stanley Increases Bitcoin Access and Uses $ 300 Million Grayscale Stocks

American giant Finserv Morgan Stanley has reportedly increased its presence in bitcoin by purchasing shares of the Grayscale Bitcoin Trust.

According to Cointelegraph, Morgan Stanley’s recent filing with the US Securities and Exchange Commission (SEC) signals a 63% increase in Grayscale Bitcoin Trust (GBTC) assets.

With a market price of nearly $ 45 per share, Morgan Stanley’s total Bitcoin-focused portfolio is over $ 300 million and is primarily aimed at using BTC without direct investment in cryptocurrency.

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