Global funds investing in cryptocurrency assets experienced a $19.6 billion investment outflow in November amid the collapse of digital currencies and the bankruptcy of the FTX exchange, writes The Wall Street Journal citing data from research company CryptoCompare.
Thus, cryptocurrency funds lost about 14.5% of all assets under management, and the cumulative figure fell to its lowest level since December 2020.
Bitcoin and ether (Ethereum) make up the lion’s share of the funds’ investments, and they also invest in exchange-traded instruments and other products.
CryptoCompare tracks the performance of 20 funds, and 19 of them showed negative returns in November. The only fund that remained positive specializes in betting on bitcoin decline: its yield was 18.2%.
