Total Value of Crypto AUM Dips 59% in 7 Months

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.

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.

“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.

Bitcoin

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.

Year-to-date inflows related to BTC now stand at around $480 million, compared to the outflows of $459 million from Ethereum investment products.

“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.