Investors withdrew $19,6 billion from crypto funds after the collapse of FTX
This amounted to 14,5% of the total assets managed by companies such as Grayscale Investments and CoinShares International
01.12.2022 - 11:30
223
2 min
0
Investors Withdrew $20 Billion From Crypto Funds in November
By Paul Vigna
As FTX plunged into chaos and bankruptcy in November, crypto investors were pulling money out from wherever they could.
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%.
Bitcoin and ether still comprise the lion’s share of assets in these funds, which included exchange traded products, exchange traded notes and trusts. Funds that held bitcoin had $13.4 billion, 68.9% of the total. Funds that held ether had $4.85 billion, 24.9% of the total.
Of the 20 funds tracked by CryptoCompare, 19 had a negative return in November. The 21Shares Short BTC fund, which bets against the price of bitcoin, rose 18.2%.
This material is taken from the website wsj.com.
Useful material?
Telegram 
Twitter Incidents
The search, the reason for which was not announced, took place a week after the election, the results of which Polymarket users predicted quite accurately
Nov 14, 2024
Market
Analysts point to the growing popularity of the first cryptocurrency as a safe haven asset
Nov 13, 2024
Market
The product will begin trading on the Swiss Exchange on November 19
Nov 12, 2024
Market
The company’s unrealized profits from investing in the first cryptocurrency approached $13 billion
Nov 12, 2024
Market
The company predicts that the rate of the first cryptocurrency will grow to $200 000 by the end of next year
Nov 11, 2024
Technologies
The company also unveiled its own blockchain adoption index
Nov 11, 2024
Cryptocurrency rates
-
Bitcoin
$91 974
BTC
+0.96%
-
Ethereum
$3 118.95
ETH
-0.77%
-
BNB Smart Chain
$579.4
BSC
+1.23%
-
Ripple
$1.14
XRP
+6.42%
-
Dogecoin
$0.37312
DOGE
+1.8%
-
Cardano
$0.761402
ADA
+5.34%
-
Bitcoin Cash
$449.2
BCH
+0.78%
-
Polkadot
$5.81
DOT
+2.82%
-
Stellar XLM
$0.23935
XLM
+21.2%
-
Litecoin
$91.19
LTC
+0.97%