Bitcoin asset management scale fell by 9.5%, marking its biggest monthly correction since July


Although Bitcoin (Bitcoin) As a viable hedge against fiat currency inflation continues to attract investors, the new data reflects changes in sentiment, as Ethereum (Ethereum) And other cryptocurrency products to accelerate the response to the decline in Bitcoin Assets (AUM) under management.

In November, the Bitcoin AUM market fell 9.5% to 48.7 billion U.S. dollars, which was the largest annual correction since July. according to Report to CryptoCompare. On the other hand, the asset management scale of crypto funds based on altcoins such as ETH increased by 5.4% to USD 16.6 billion.

Monthly AUM for aggregated products. Source- Encryption comparison

As shown in the above figure, the total asset management scale of all digital asset investment products has dropped by 5.5% to 70 billion U.S. dollars, which coincides with the continued bear market since then Bitcoin hits an all-time high above $65,000.

Due to a 9.5% drop, the Bitcoin AUM market accounted for 70.6% of the total AUM share. However, Ethereum’s AUM increased by 5.4% to USD 16.6 billion, while AUM, which represents other crypto assets, increased by USD 2.6 billion.

AUM by asset type. Source- Encryption comparison

Among all AUM products, grayscale products account for 76.8% of the AUM market. Grayscale-led trust products fell 6.8% to US$54.5 billion. Other well-known participants include XBT Provider (US$5 billion, 7.2% of the total) and 21Shares (US$2.5 billion, 3.6% of the total), as shown in the figure below:

The company’s asset management scale. Source- Encryption comparison

According to the report, the average weekly flow into Bitcoin-based products in November was $94.4 million. Among the other 67.8 million US dollars, Ethereum-based products contributed approximately US$24.4 million, while Cardano and Tron-based products contributed US$10.7 million and US$10.5 million, respectively.

related: Morgan Stanley increases its exposure to Bitcoin, holding $300 million in grayscale stocks

American financial services giant Morgan Stanley reported that it increased their exposure to Bitcoin by buying shares in Grayscale Bitcoin Trust.

As Cointelegraph reported, Morgan Stanley’s recent filing with the U.S. Securities and Exchange Commission (SEC) emphasized Grayscale Bitcoin Trust (GBTC) holdings increased by 63%.

The market price is close to US$45, and Morgan Stanley’s Bitcoin-centric overall investment portfolio exceeds US$300 million, mainly for BTC risk exposures that do not have direct crypto investments.