BTC

$97561.778

0.40%

ETH

$3480.96

4.74%

BNB

$654.792

0.72%

XRP

$1.431

4.61%

Bitcoin

Bitcoin AUM down 9.5% – largest monthly pullback since July

November 28, 2021 - Around 2 mins mins to read

While Bitcoin‘s position as an inflation hedge continues to attract investors, the new data reflects a shift in sentiment. In particular, the assets under management (AUM) of Ethereum and other altcoins are continuously increasing while that of Bitcoin is decreasing.

Bitcoin AUM fell 9.5% to $ 48.7 billion in November, which is the biggest monthly decline of the year since July, according to Cointelegraph. report by CryptoCompare. On the flip side, AUMs on altcoin-based crypto funds like Ether rose 5.4% to $ 16.6 billion.

Bitcoin AUM is down 9.5%, hitting the largest monthly pullback since July

Aggregated monthly AUM of products | Source: CryptoCompare

As shown in the graph above, the total wealth of all crypto investment products fell 5.5% to $ 70.0 billion, coinciding with the ongoing bear market since Bitcoin hit an all-time high (ATH) of over $ 65,000.

Due to the 9.5% decline, Bitcoin accounts for 70.6% of the total AUM market share. However, Ethereum’s AUM rose 5.4% to $ 16.6 billion, while the AUM, which represents other crypto assets, rose by $ 2.6 billion.

Bitcoin AUM is down 9.5%, hitting the largest monthly pullback since July

AUM by property type | Source: CryptoCompare

Grayscale products accounted for 76.8% of the AUM market share. Grayscale trust products fell 6.8% to $ 54.5 billion. Other prominent players are XBT Providers ($ 5.0 billion, 7.2%) and 21Shares ($ 2.5 billion, 3.6%).

Bitcoin AUM is down 9.5%, hitting the largest monthly pullback since July

AUM from companies | Source: CryptoCompare

According to the report, weekly inflows into Bitcoin-based products averaged $ 94.4 million in November. Of the other $ 67.8 million, Ethereum-based products contribute around $ 24.4 million, while Cardano and Tron-based products contribute $ 10.7 million and $ 10.5 million, respectively .

Banking giant Morgan Stanley reports that it has increased its exposure to Bitcoin by buying shares in the Grayscale Bitcoin Trust (GBTC). file send up The US Securities and Exchange Commission recently reported a 63% increase in GBTC holdings.

Join Bitcoin Magazine Telegram to keep track of news and comment on this article: https://t.me/coincunews

Mr. Teacher

follow AZCoin News

Follow the Youtube Channel | Subscribe to telegram channel | Follow the Facebook page

#Bitcoin

AUM

July

largest

Monthly

pullback

Avatar of Annie

Author

Annie

Championing positive change through finance, I've dedicated over eight years to sustainability and environmental journalism. My passion lies in uncovering companies that make a real difference in the world and guiding investors towards them. My expertise lies in navigating the world of sustainable investing, analyzing ESG (Environmental, Social, and Governance) criteria, and exploring the exciting field of impact investing. "Invest in a better future," I often say. That's the driving force behind my work at Coincu – to empower readers with knowledge and insights to make investment decisions that create a positive impact.
Bitcoin

Bitcoin AUM down 9.5% – largest monthly pullback since July

While Bitcoin‘s position as an inflation hedge continues to attract investors, the new data reflects a shift in sentiment. In particular, the assets under management (AUM) of Ethereum and other altcoins are continuously increasing while that of Bitcoin is decreasing.

Bitcoin AUM fell 9.5% to $ 48.7 billion in November, which is the biggest monthly decline of the year since July, according to Cointelegraph. report by CryptoCompare. On the flip side, AUMs on altcoin-based crypto funds like Ether rose 5.4% to $ 16.6 billion.

Bitcoin AUM is down 9.5%, hitting the largest monthly pullback since July

Aggregated monthly AUM of products | Source: CryptoCompare

As shown in the graph above, the total wealth of all crypto investment products fell 5.5% to $ 70.0 billion, coinciding with the ongoing bear market since Bitcoin hit an all-time high (ATH) of over $ 65,000.

Due to the 9.5% decline, Bitcoin accounts for 70.6% of the total AUM market share. However, Ethereum’s AUM rose 5.4% to $ 16.6 billion, while the AUM, which represents other crypto assets, rose by $ 2.6 billion.

Bitcoin AUM is down 9.5%, hitting the largest monthly pullback since July

AUM by property type | Source: CryptoCompare

Grayscale products accounted for 76.8% of the AUM market share. Grayscale trust products fell 6.8% to $ 54.5 billion. Other prominent players are XBT Providers ($ 5.0 billion, 7.2%) and 21Shares ($ 2.5 billion, 3.6%).

Bitcoin AUM is down 9.5%, hitting the largest monthly pullback since July

AUM from companies | Source: CryptoCompare

According to the report, weekly inflows into Bitcoin-based products averaged $ 94.4 million in November. Of the other $ 67.8 million, Ethereum-based products contribute around $ 24.4 million, while Cardano and Tron-based products contribute $ 10.7 million and $ 10.5 million, respectively .

Banking giant Morgan Stanley reports that it has increased its exposure to Bitcoin by buying shares in the Grayscale Bitcoin Trust (GBTC). file send up The US Securities and Exchange Commission recently reported a 63% increase in GBTC holdings.

Join Bitcoin Magazine Telegram to keep track of news and comment on this article: https://t.me/coincunews

Mr. Teacher

follow AZCoin News

Follow the Youtube Channel | Subscribe to telegram channel | Follow the Facebook page

Leave a Reply