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
33
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 https://www.wsj.com.
Useful material?
Telegram 
Twitter Market
It costs more than $2000 an hour for a company specialist, while at least 100 employees are involved in the proceedings on the collapse of the exchange
Jan 27, 2023
Market
The entrepreneur agrees to eat a Happy Meal live if the restaurant adds DOGE as a means of payment
Jan 27, 2023
Market
Cryptocurrency expert Dylan LeClair also noted that the average rate of most coins has been showing positive dynamics over the last 30 days
Jan 27, 2023
Market
At the DAO vote, the initiative received the support of about 99% of the participants
Jan 27, 2023
Market
The index rose to 55 for the first time since March 30, 2022
Jan 27, 2023
Market
The cost of the accounts ranges from $50 to $300, depending on the availability of verification
Jan 27, 2023
Cryptocurrency rates
-
Bitcoin
$23 195
BTC
-2.03%
-
Ethereum
$1 586.23
ETH
-2.07%
-
Ripple
$0.4
XRP
-3.6%
-
Cardano
$0.38
ADA
-3.24%
-
Dogecoin
$0.09
DOGE
+1.27%
-
Polkadot
$6.3
DOT
-5.06%
-
Litecoin
$92.41
LTC
-3.13%
-
Solana
$10.15
SOL
-9.47%
-
Monero
$180.1
XMR
-3.14%
-
Bitcoin-cash
$132.16
BCH
-3.8%