Digital Asset Management Review - November 2022

Report Summary

In November, digital asset management firms saw their AUM decline by an average of 14.5%, the lowest monthly AUM recorded since December 2020. This decline was fuelled by fears surrounding the exposure that those firms have to FTX and the implications of the recent incidents on market stability.

November Highlights

  • Average daily aggregate product volumes across all digital asset investment products saw a significant rise of 127% to $139mn in November; the highest volumes recorded since June 2022, breaking the downward trend in volumes since May 2022.
  • Grayscale’s Bitcoin trust product (GBTC) recorded an average daily volume of $72.9mn, a 155% increase compared to October, while the Grayscale Litecoin-based product LTCN recorded the highest increase in volumes of 428% to $450k.
  • Grayscale’s Bitcoin Fund Hits a Record Discount of 45.1% Following FTX Collapse.
  • Ethereum products recorded negative net flows of $0.43mn, continuing the asset’s streak of negative net flows, which started in September following the Ethereum Merge.
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