In a recent interview with Tracy Weslosky from InvestorNews, Bundeep Singh Rangar, CEO and Director of Fineqia International Inc. (CSE: FNQ), provided insights into the company’s investment in Criptonite, a Swiss digital asset management firm, and discussed the current state of the digital asset market. Concurrently, Fineqia released a news report highlighting significant growth in the digital asset sector.
Rangar emphasized Fineqia’s strategic investment in Criptonite to expand its business proposition and European presence. Criptonite specializes in developing institutional-grade products for digital asset investment, aligning with Fineqia’s objectives and long-standing relationship with the firm’s founder. This investment is part of Fineqia’s broader strategy to increase its footprint in the digital asset market, particularly in Europe.
The interview also revealed Fineqia’s analysis of the digital asset market, particularly in Exchange-Traded Products (ETPs) which include Exchange-Traded Funds (ETFs) and Exchange-Traded Notes (ETNs). According to their findings, ETPs with digital assets as underlying collateral experienced a notable 91% growth in Assets Under Management (AUM) year-to-date, surpassing the growth of the underlying digital assets themselves by 30%. This growth was primarily driven by Bitcoin (BTC), which comprises a significant portion of the ETPs’ AUM, despite having a smaller share in the overall digital asset market. The growth in Bitcoin’s value, which more than doubled this year, significantly impacted the ETPs’ AUM.
In October, the AUM for digital asset-based ETPs peaked at $38 billion, the highest since May 2022, representing a 25% increase from the previous month. This surge coincided with a general increase in the market value of cryptocurrencies, which saw a 17% rise, reaching about $1.35 trillion, the highest since June 2022.
Rangar also discussed the regulatory landscape, noting a growing regulatory clarity in regions like Europe, UAE, Hong Kong, and Japan. In contrast, the United States has seen a more enforcement-driven approach by the SEC, which is evolving towards a greater certainty. This shift is exemplified by the anticipation of the approval of Bitcoin Spot ETFs in the U.S., evidenced by several pending applications and BlackRock’s plans for an Ethereum Spot ETF. The market is responding positively to these developments, with expectations of SEC approvals driving investor interest and allocation decisions.
Rangar’s commentary on regulatory developments, combined with Fineqia’s analysis, indicates a maturing digital asset market with increasing institutional interest and regulatory clarity. This scenario presents opportunities for growth and innovation in digital asset investment products, a domain where Fineqia is actively positioning itself.
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About Fineqia International Inc.
Fineqia 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. It also provides a platform to support and manage the issuance of debt securities in the UK. 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.
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