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.
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 also saw major challenges during the past eight months.
In terms of year-to-date performance, Ethereum investment products suffered the most. ETH 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.
Market Recovery?
Despite an overall drop in the value of crypto AUM, the market witnessed a decent recovery in the past week.
“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.
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.
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.
A report from CoinShares shows that international digital asset managers now hold…
