Investors Withdrew $20 Billion From Crypto Funds in November

Dec 01,2022
KingData News: Crypto-fund asset managers like Grayscale Investments, CoinShares International Ltd. and others saw investors withdraw $19.6 billion in November, according to research firm CryptoCompare. That represented 14.5% of the fund managers’ total assets under management, and it brought their collective AUM to its lowest point since December 2020. “One major concern was regarding the exposure that Digital Currency Group and Genesis Trading— the parent company and the sister company of Grayscale, respectively—had to FTX, and the implications this could have on the broader market,” CryptoCompare said in a report. Grayscale is by far the largest provider of these products, with its $14.7 billion comprising 75.5% of the industry’s total assets under management. Year to date, AUM for these firms is down some 55%.
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