06-27-2022, 05:19 AM
Total Value of Crypto AUM Dips 59% in 7 Months
<p>The crypto winter caused a massive plunge in the prices of leading digital currencies since November 2021. Bitcoin lost almost 72% of its value in seven months and touched a low of $17,700 last week. Amid market correction, the overall value of global crypto assets under management has dropped substantially since November last year.</p><p>The recent weekly digital asset fund flows report by CoinShares shows that global crypto asset managers now have almost $36 billion worth of assets under management (AUM), which is 59% lower compared to approximately $87 billion in November 2021. The figure has now reached its lowest point since February 2021.</p><p>“Digital asset investment products saw outflows totaling US$39m with total assets under management (AUM) now at their lowest point since February 2021, at US$36bn, down 59% from the November 2021 peak. Despite the recent negative sentiment, year-to-date flows remain positive at US$403m. The aggregate data masks a significant regional polarization of views, with last week’s outflows almost solely from Canadian exchanges (US$141m), while the US, Europe and Brazil exchanges saw inflows totaling US$79m, US$12m and US$12m respectively,” the report noted.</p>Bitcoin<p>BTC investment products saw a jump in institutional activities in the past week. Despite negative sentiment and plunging prices, Bitcoin products have attracted $28 million worth of inflows. </p><p>Year-to-date inflows related to BTC now stand at around $480 million, compared to the outflows of $459 million from Ethereum investment products.</p><p>“Bitcoin saw inflows totaling US$28m last week and looks to be benefitting from weak prices with month-to-date inflows at US$46m. Short-Bitcoin AuM peaked to an all-time high of US$64m at the beginning of last week but saw record outflows totaling US$5.8m suggesting negative sentiment may be close to its peak. Multi-asset investment products, the most resilient in terms of inflows this year, saw inflows totaling US$9m last week,” CoinShares added in the report.
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This article was written by Bilal Jafar at www.financemagnates.com.
https://www.financemagnates.com/cryptocu...-7-months/
<p>The crypto winter caused a massive plunge in the prices of leading digital currencies since November 2021. Bitcoin lost almost 72% of its value in seven months and touched a low of $17,700 last week. Amid market correction, the overall value of global crypto assets under management has dropped substantially since November last year.</p><p>The recent weekly digital asset fund flows report by CoinShares shows that global crypto asset managers now have almost $36 billion worth of assets under management (AUM), which is 59% lower compared to approximately $87 billion in November 2021. The figure has now reached its lowest point since February 2021.</p><p>“Digital asset investment products saw outflows totaling US$39m with total assets under management (AUM) now at their lowest point since February 2021, at US$36bn, down 59% from the November 2021 peak. Despite the recent negative sentiment, year-to-date flows remain positive at US$403m. The aggregate data masks a significant regional polarization of views, with last week’s outflows almost solely from Canadian exchanges (US$141m), while the US, Europe and Brazil exchanges saw inflows totaling US$79m, US$12m and US$12m respectively,” the report noted.</p>Bitcoin<p>BTC investment products saw a jump in institutional activities in the past week. Despite negative sentiment and plunging prices, Bitcoin products have attracted $28 million worth of inflows. </p><p>Year-to-date inflows related to BTC now stand at around $480 million, compared to the outflows of $459 million from Ethereum investment products.</p><p>“Bitcoin saw inflows totaling US$28m last week and looks to be benefitting from weak prices with month-to-date inflows at US$46m. Short-Bitcoin AuM peaked to an all-time high of US$64m at the beginning of last week but saw record outflows totaling US$5.8m suggesting negative sentiment may be close to its peak. Multi-asset investment products, the most resilient in terms of inflows this year, saw inflows totaling US$9m last week,” CoinShares added in the report.
</p>
This article was written by Bilal Jafar at www.financemagnates.com.
https://www.financemagnates.com/cryptocu...-7-months/