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Altcoins are catching up



Bitcoin ( BTC ) has now developed into the status of a popular hedge against inflation, but as new data show, the crypto market leader from Ethereum ( ETH ) and other Altcoins is getting more and more competition for the favor of investors.


An important indicator for this is the key figure Assets Under Management (AUM), which shows the total assets invested in a financial product. Bitcoin mutual fund AUMs are now down 9.5% in November to $ 48.7 billion, the biggest drop since July. Meanwhile, the AUM in altcoin mutual funds (e.g. for ETH) rose 5.4% to $ 16.6 billion


As can be seen in the graphic above, however, the total value of all AUM in crypto investment products also fell by 5.5% to $ 70 billion. Hardly surprising, because since Bitcoin recently hit a new record high of over 65,000 US dollars, the entire market has been in a slight sag.



Accordingly, the 9.5% return of the AUM for Bitcoin is noticeable, because these make up a market share of 70.6%. The AUM for Ethereum financial products has meanwhile increased by 5.4% to 16.6 billion US dollars, while the AUMs for all other cryptocurrencies come together to 2.6 billion US dollars.


Out of the total AUM offerings, Grayscale products amount to 76.8% of the AUM market. The Grayscale-dominated trust products fell by 6.8% to $54.5 billion. Other prominent players include XBT Provider ($5.0bn, 7.2% of total) and 21Shares ($2.5bn, 3.6% of total), evidenced by the graph below:


Of all crypto investment products, the Grayscale investment funds make up the largest piece of the pie with a market share of 76.8%. However, the market leader also had to accept a loss of 6.8% to an AUM value of 54.5 billion US dollars. The other major crypto investment providers are XBT Providers ($ 5 billion, 7.2% market share) and 21Shares ($ 2.5 billion, 3.6% market share), as can be seen in the graph below.


Monthly cash flow into Bitcoin investment products averages $ 94.4 million in November. The rest of the crypto market collectively hits a weekly average of $ 67.8 million, of which Ethereum investment products account for $ 24.4 million. Cardano and Tron come in at $ 10.7 million and $ 10.5 million, respectively.


After all, with the large investment bank Morgan Stanley, an important player has increased its investments in the Grayscale Bitcoin Trust in the last few weeks and months.


As Cointelegraph had reported , official records of the US Securities and Exchange Commission show that Morgan Stanley increased its own investments in the GBTC by a total of 63%.



Morgan Stanley's crypto portfolio has now risen to more than 300 million US dollars, most of which is invested in Bitcoin.

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