Worldwide Digital Asset-Based Exchange Traded Products AUM Rose 5% in Jan. as BTC Spot ETFs Approved

Technology

February 9, 2024 (Source) — Fineqia International Inc. (the “Company” or “Fineqia”) (CSE: FNQ) (OTC: FNQQF) (Frankfurt: FNQA), a leading digital asset and fintech investment business, announces that its analysis of global Exchange-Traded Products (ETPs) with digital assets as underlying collateral, revealed a 5% growth in total crypto Assets Under Management (AUM) in January, to $52.0 billion from $49.5 billion.

During the same month, the market value of crypto assets decreased 2.7%, to about $1.73 trillion from $1.77 trillion. The difference between the growth in AUM of crypto ETPs and the market value of crypto assets is primarily attributed to the approval of BTC Spot ETFs (Exchange-Traded Funds) traded in the US, which commenced trading on Jan. 11, leading to increased capital inflow into crypto ETPs.

The 10 BTC Spot ETFs, featuring issuers like Blackrock, 21Shares, Grayscale, and others, witnessed nine new issuances along with the conversion of Grayscale Trust (GBTC) into an ETF. The nine newly issued products garnered approximately $6.9 billion in inflows in Jan., partially mitigated by the net outflow from Grayscale ETF. Despite this, the total flow resulted in a net inflow exceeding $1 billion for Jan.

BlackRock’s iShares Bitcoin Trust (IBIT) has surged to become one of the top five ETFs of 2024 based on inflows, with $3.2 billion amassed in the first 17 days since its launch on Jan. 11, as reported by Bloomberg Intelligence. The 10 BTC ETFs approved in January are taking advantage of Google’s changed marketing rules that allow ads displaying “cryptocurrency coin trusts” to appear along with results for searches such as “Bitcoin ETF”.

“The light has turned green and the (investor) traffic has started moving,” said Fineqia CEO Bundeep Singh, Rangar referring to the approval of BTC Spot ETFs in the U.S. “More drivers are joining the ETF roadway as their confidence grows in digital assets.”

In Jan., the price of BTC rose 2.5% to $43,300 from $42,300 at the end of last year. The AUM of ETPs with BTC as the underlying asset saw a 6.8% increase in Jan, to $38.0 billion from $35.6 billion recorded at the end of Dec. 2023. These figures highlight the substantial net inflow observed in Jan., particularly following the BTC Spot ETFs approval.

Ethereum (ETH) rose 3.9% to $2,365 in Jan. from $2,277 recorded at the end of Dec. 2023. In the same period, ETH-denominated ETPs AUM increased 1.9% to $9.6 billion from $9.4 billion on Dec. 31, 2023.

ETPs representing a diversified basket of cryptocurrencies decreased 3.6% in AUM during January, to $2.17 billion, from $2.25 billion recorded at the end of 2023.

ETPs representing an index of alternative coins decreased by 0.3% in January to $2.22 billion from $2.23 billion recorded at the beginning of the year.
ETPs include Exchange Traded Funds (ETFs) and Exchange Traded Notes (ETNs). Fineqia Research’s AUM calculation factors in the launch or closure of ETPs during any stated period. The number of tracked ETPs stood at 180 as of the end of January.

All references to price are quoted in USD, and the cryptocurrency prices are sourced from CoinMarketCap and CoinGecko.

The ETP and ETF AUM data referenced in this announcement were compiled from reputable sources, including 21Shares AG, Grayscale Investment LLC, VanEck Associates Corp., Morningstar, Inc., and TrackInSight SAS, by Fineqia’s dedicated in-house research department.

About Fineqia International Inc.

Fineqia (www.fineqia.com) is a digital asset business that builds and targets investments in early and growth stage technology companies that will be part of the next generation of the Internet. Publicly listed in Canada (CSE: FNQ) with offices in Vancouver and London, Fineqia’s portfolio of investments includes businesses at the forefront of tokenization, blockchain technology, NFTs, AI, and fintech. Fineqia’s VC fund in formation, Glass Ventures, backs category-defining Web 4.0 companies built by world-class entrepreneurs.

Media Contacts
Angus Campbell
Nominis Advisory
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Athraa Bheekoo
Luna PR
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FOR FURTHER INFORMATION, PLEASE CONTACT:
Katarina Kupcikova, Marketing & Communications Manager
E. [email protected]
T. +44 7806 730 769

FORWARD-LOOKING STATEMENTS
Some statements in this release may contain forward-looking information (as defined under applicable Canadian securities laws) (“forward-looking statements”). All statements, other than of historical fact, that address activities, events or developments that Fineqia (the “Company”) believes, expects or anticipates will or may occur in the future (including, without limitation, statements regarding potential acquisitions and financings) are forward-looking statements. Forward-looking statements are generally identifiable by use of the words “may”, “will”, “should”, “continue”, “expect”, “anticipate”, “estimate”, “believe”, “intend”, “plan” or “project” or the negative of these words or other variations on these words or comparable terminology. Forward-looking statements are subject to a number of risks and uncertainties, many of which are beyond the Company’s ability to control or predict, that may cause the actual results of the Company to differ materially from those discussed in the forward-looking statements. Factors that could cause actual results or events to differ materially from current expectations include, among other things, without limitation, the failure to obtain sufficient financing, and other risks disclosed in the Company’s public disclosure record on file with the relevant securities regulatory authorities. Any forward-looking statement speaks only as of the date on which it is made except as may be required by applicable securities laws. The Company disclaims any intent or obligation to update any forward-looking statement except to the extent required by applicable securities laws.

Katarina Kupcikova, Marketing & Communications Manager
Fineqia International Inc.
+44 7806 730769

Fineqia International Inc.

Fineqia International Inc. (CSE: FNQ) is a digital asset business that builds and targets investments in early and growth stage technology companies that will be part of the next…

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