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.

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.

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%).

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.

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Mr. Teacher

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