07-28-2022, 12:38 PM
Global Crypto AUM Drops to $30 Billion
<p>Despite weekly inflows worth $30 million, the overall value of global crypto assets under management (AUM) dropped to $30.2 billion last week. Amid the latest crypto winter, Bitcoin, the world’s most valuable digital asset, witnessed a major drop in the value of BTC assets under management.</p><p>A report from CoinShares shows that international digital asset managers now hold $19.3 billion worth of BTC assets. In November 2021, asset management companies were holding over $40 billion worth of Bitcoin assets. Similar to Bitcoin, investment products related to other crypto assets like Ethereum, BNB and Litecoin have seen major challenges in the past eight months.</p><p>In terms of year-to-date performance, Ethereum investment products have suffered the most. ETH has witnessed record-breaking outflows worth $316 million since the start of 2022. BNB came at the second spot with outflows of $22 million. As a result of the latest price dip, the total value of global ETH assets under management now stands at around $7 billion, compared to almost $20 billion in November 2021.</p>Market Recovery?<p>Despite an overall drop in the value of crypto AUM, the market witnessed a decent recovery in the last week.</p><p>“Digital asset investment products saw inflows totaling US$27m last week, while late reporting of trades from the prior week saw inflows corrected from US$12m to US$343m, marking the largest single week of inflows since November 2021. This brings month-to-date inflows to US$394m and total assets under management (AuM) back to early June 2022 levels of US$30bn. Bitcoin saw inflows totaling US$16m last week with the prior week of inflows corrected to US$206m, the largest single week of inflows since May 2022,” CoinShares noted in its weekly report.</p><p>CoinShares highlighted that a large part of the latest weekly inflows came from Switzerland. Germany and the US accounted for inflows worth $8 million and $9 million, respectively.
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This article was written by Bilal Jafar at www.financemagnates.com.
https://www.financemagnates.com/cryptocu...0-billion/
<p>Despite weekly inflows worth $30 million, the overall value of global crypto assets under management (AUM) dropped to $30.2 billion last week. Amid the latest crypto winter, Bitcoin, the world’s most valuable digital asset, witnessed a major drop in the value of BTC assets under management.</p><p>A report from CoinShares shows that international digital asset managers now hold $19.3 billion worth of BTC assets. In November 2021, asset management companies were holding over $40 billion worth of Bitcoin assets. Similar to Bitcoin, investment products related to other crypto assets like Ethereum, BNB and Litecoin have seen major challenges in the past eight months.</p><p>In terms of year-to-date performance, Ethereum investment products have suffered the most. ETH has witnessed record-breaking outflows worth $316 million since the start of 2022. BNB came at the second spot with outflows of $22 million. As a result of the latest price dip, the total value of global ETH assets under management now stands at around $7 billion, compared to almost $20 billion in November 2021.</p>Market Recovery?<p>Despite an overall drop in the value of crypto AUM, the market witnessed a decent recovery in the last week.</p><p>“Digital asset investment products saw inflows totaling US$27m last week, while late reporting of trades from the prior week saw inflows corrected from US$12m to US$343m, marking the largest single week of inflows since November 2021. This brings month-to-date inflows to US$394m and total assets under management (AuM) back to early June 2022 levels of US$30bn. Bitcoin saw inflows totaling US$16m last week with the prior week of inflows corrected to US$206m, the largest single week of inflows since May 2022,” CoinShares noted in its weekly report.</p><p>CoinShares highlighted that a large part of the latest weekly inflows came from Switzerland. Germany and the US accounted for inflows worth $8 million and $9 million, respectively.
</p>
This article was written by Bilal Jafar at www.financemagnates.com.
https://www.financemagnates.com/cryptocu...0-billion/