The rapid expansion of corporate digital asset treasuries showed signs of deceleration in November, with net inflows dropping to $1.3 billion. This slowdown coincided with a period of significant volatility across traditional equity markets. The month’s activity was predominantly driven by firms adding Bitcoin to their balance sheets, accounting for $1.06 billion of the total inflows. In contrast, Ethereum experienced a net outflow of $37 million. This divergence occurred despite notable continued accumulation of Ether by at least one major institutional entity, BitMine, highlighting a selective and nuanced approach to treasury management among corporations. The overall cooling of inflows suggests a more cautious strategic posture from corporate treasuries as they navigate evolving market conditions and regulatory landscapes.
