LONDON, November 8, 2022 /PRNewswire/ – Fineqia International Inc.’s (the “Company” or “Fineqia”) (CSE: FNQ) (OTC: FNQQF) (Frankfurt: FNQA) analysis of Global Exchange Traded Products (ETPs) with cryptocurrencies as underlying assets, revealed a 7.5% increase in the value of assets under management (AUM) for the month of October, closely mirroring the 7% increase in the cryptocurrency market value during the same period.
Total AUM increased to $25.3 billion of $23.5 billion between October 1st and November 1st in 159 ETPs listed, according to Fineqia Research. ETPs include Exchange Traded Funds (ETFs) and Exchange Traded Notes (ETNs). The overall value of cryptocurrencies rose 7% above $1 billion in October. It remained, however, at less than half of its peak value in January $2.2 billion.
On a year-to-date (YTD) basis, the AUM of crypto ETPs were down 57%, similar to a 54% drop in the broader crypto market. Despite a 46% increase in the number of ETPs to 159 in October compared to 109 in January, their overall AUM was $25.3 billion compared to $58.5 billion in January. The price of Bitcoin fell 56%, while Etherum decreased 57% during January.October 2022 period.
“The price of cryptocurrencies is still the North Star,” said Fineqia CEO Bundeep Singh Rangar. “It’s the only driver of ETP AUM stocks right now, not capital inflows or new product offerings.”
holding of ETP Bitcoin (BTC) rose 5% to $16.8 billion of $16 billion in the month of October. That was similar to the 7% increase in the price of BTC, which reached approximately $20,600 in November 1st compared to $19,300 a month earlier ETPs representing altcoins were up 4% and those holding a basket of cryptocurrencies were up 8%.
The AUM of Ethereal (ETH) denominated ETPs increased the most with 16%, taking advantage of the cryptocurrencyprice increase from 21% to almost $1,600 of $1,300. His AUM grew to $6.5 billion of $5.4 billion.
All references are in US dollars and all cryptocurrency prices come from CoinMarketCap.
All ETFs and ETP AUMs were compiled from publicly available sources such as 21Shares AG, Grayscale Investment LLC, VanEck Associates Corp., MorningStars, Inc. and TrackInSight SAS by Fineqia’s internal research department.
About Fineqia International Inc.
Fineqia (www.fineqia.com) is a listed entity in Canada (CSE: FNQ), USA (OTC: FNQQF) and Europe (Frankfurt: FNQA). Fineqia’s strategic focus has been to provide a platform and associated services to support the issuance of securities and manage the servicing of debt securities. Fineqia is building its alternative finance business and has a growing portfolio of blockchain, fintech and cryptocurrency technology companies worldwide.
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SOURCE Fineqia International Inc.