Global Digital Asset-Based Exchange Traded Products AUM Nearly Doubles in Q1; Surges 17% in March

Rhea-AI Summary

Fineqia International Inc. reports a significant increase in Assets Under Management (AUM) for global Exchange Traded Products (ETPs) with digital assets as underlying collateral. AUM reached $94.4 billion, marking a 17% increase from the previous month and a 91% increase from the beginning of 2024.

London, United Kingdom--(Newsfile Corp. - April 8, 2024) - Fineqia International Inc. (CSE: FNQ) (OTC Pink: FNQQF) (FSE: FNQA) (the "Company" or "Fineqia"), 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 Assets Under Management (AUM) reached $94.4 billion, marking a 17% increase from $80.5 billion in March. In Q1, total AUM increased by 91% from $49.5 billion recorded at the beginning of 2024.

The growth in ETPs AUM outpaced the increase in the value of underlying crypto assets in Q1 by about 55%. The premium is largely credited to the approval of BTC Spot ETFs in the United States, which began trading on Jan. 11, boosting capital inflow in financial products with underlying digital assets. In March, the total market cap of digital assets surged by 19%, to about $2.82 trillion from $2.37 trillion. In Q1, the total digital assets market value rose 59% from $1.77 trillion recorded at the end of the previous year.

The ten BTC Spot ETFs, featuring issuers such as Blackrock, 21Shares, Grayscale, and others, attracted $12.1 billion in net inflows since their inception. This represents a $4.7 billion net inflow in March, in addition to the cumulative $7.4 billion net inflow recorded at the end of Feb.

The Grayscale Bitcoin ETF (GBTC) had the most AUM with approximately $21.5 billion in assets. It previously traded as a Trust before being converted into an ETF when it experienced $15.2 billion in outflows offsetting the total $27.3 billion inflows into the new ETFs. About 50% of the total inflow flowed into Blackrock Bitcoin ETF (IBIT), which recorded more than $14 billion inflow since inception.

"The flood of investor enthusiasm that followed the SEC's approval of Bitcoin ETFs is now a steady stream," said Fineqia's CEO Bundeep Singh Rangar. "As BTC's price holds at more than double that of this time last year, it's likely to garner continued interest amidst expectations of further increases over the next 12 months."

In March, the price of BTC increased by 13.7%, rising to $69,650 from $61,250 at the end of Feb. During the same period, the AUM of ETPs with BTC as the underlying asset saw a 20.1% increase, reaching $72.8 billion from $60.6 billion recorded at the end of Feb.

In Q1, the AUM of ETPs holding BTC as underlying more than doubled, recording a 104.6% increase from $35.6 billion at the end of 2023. During the same time, BTC price increased 64.7% to $69,650 from $42,300 recorded at the beginning of Jan. These statistics underscore the significant impact of the recent BTC Spot ETFs launch in the recent market uptrend.

During March, Ethereum (ETH) rose 1% in value to $3,508 from $3,473 recorded at the end of February. In Q1, ETH price increased 54% from $2,277 at the end of 2023. In the same period, ETH-denominated ETPs AUM increased 51.5% to $14.3 billion from $9.5 recorded at the beginning of 2024. During March, ETPs holding ETH as underlying experienced 2% growth to $14.3 billion.

ETPs representing a diversified basket of cryptocurrencies increased 9.5% in AUM during Mar., to $3.36 billion, from $3.01 billion recorded at the end of Feb. During Q1, the growth was 49.1% from $2.25 billion at the start of 2024.

ETPs representing an index of alternative coins increased by 38.1% in Mar. to $3.90 billion from $2.83 billion recorded at the end of February. In Q1, the total growth was 74.9% from $2.23 billion at the end of 2023.

Solana (SOL) was dominant in this index, comprising almost half of the alternative coins AUM. ETPs with SOL as the underlying asset increased 48.1% in their AUM in March, to $1.87 billion from $1.26 billion recorded at the end of Feb., and a total growth of 83.9% year-to-date from $1.02 billion recorded at the end of last 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 182 as of the end of March.

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 quoted symbols on the Nasdaq and the Frankfurt Stock Exchange, 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 3.0 and Web 4.0 companies built by world-class entrepreneurs. https://twitter.com/FineqiaPlatform and https://www.linkedin.com/company/fineqia/.

Media Contacts

Angus Campbell
Nominis Advisory
angus@nominis.co

Athraa Bheekoo
Luna PR
Athraa@lunapr.io

FOR FURTHER INFORMATION, PLEASE CONTACT:
Katarina Kupcikova, Marketing & Communications Manager
E. katarina.kupcikova@fineqia.com
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. Crypto assets are generally unregulated, subject to sudden and significant changes in value and carry a high risk of total loss of the investment. As these are unregulated assets, investors are unlikely to have recourse to any regulatory protections or access to investor compensation schemes. If you are unsure as to the appropriateness of these assets for your circumstances, you should take independent financial and legal advice. Fineqia Inc. is not a crypto asset exchange and is not registered with any Authority as such. This material is general economic commentary and does not constitute a recommendation to buy, sell or otherwise transact in any of the assets discussed.

To view the source version of this press release, please visit https://www.newsfilecorp.com/release/204696

FAQ

What is the current Assets Under Management (AUM) for global Exchange Traded Products (ETPs) with digital assets as underlying collateral reported by Fineqia International Inc.?

Fineqia International Inc. reports that AUM reached $94.4 billion.

What was the percentage increase in AUM from the previous month?

A 17% increase from $80.5 billion in March was reported by Fineqia International Inc.

How much did the total AUM increase by in Q1 from the beginning of 2024?

Fineqia International Inc. reported a 91% increase in total AUM from $49.5 billion at the beginning of 2024.