Worldwide Crypto Based Exchange Traded Products AUM Dropped 17% in November
LONDON, Dec. 5, 2022 /PRNewswire/ - Fineqia International Inc.'s (the "Company" or "Fineqia") (CSE: FNQ) (OTC: FNQQF) (Frankfurt: FNQA) analysis of Exchange Traded Products (ETPs) worldwide that have cryptocurrencies as underlying assets, revealed a
The total AUM decreased to
The ETPs include Exchange Traded Funds (ETFs) and Exchange Traded Notes (ETNs). The overall value of cryptocurrencies decreased
On a year-to-date (YTD) basis, the AUM of crypto ETPs decreased
"The price of cryptocurrencies dropped as a result of the FTX bankruptcy in early Nov.," said Fineqia CEO Bundeep Singh Rangar. "We're still facing contagious effects of the FTX failure that has consequentially weakened the financial position of other companies and made some of them insolvent."
A number of crypto-related entities revealed some amount of exposure to collapsed cryptocurrency exchange FTX. These firms include Binance, BlockFi, Coinbase, Coinshares, Galaxy Digital, Genesis Global Trading, and Voyager Digital, among others.
ETH prices have plummeted due to selling by people who are believed to have hacked FTX. They are estimated to have sold more than 50,000 ETH and still retain more than 200,000 ETH. More selling by them could further negate the price of ETH.
The AUM of Ethereum (ETH) denominated ETPs decreased by
ETPs holding Bitcoin (BTC) dropped almost
All references are in US dollars and all cryptocurrency prices are sourced from CoinMarketCap.
All ETFs and ETPs AUM were compiled from publicly available sources, such as 21Shares AG, Grayscale Investment LLC, VanEck Associates Corp., MorningStars, Inc., and TrackInSight SAS by Fineqia's in-house research department.
Fineqia (www.fineqia.com) is a listed entity in Canada (CSE: FNQ), US (OTC: FNQQF) and Europe (Frankfurt: FNQA). Fineqia's strategic focus has been to provide a platform and associated services to support securities issuances and manage administration of debt securities. Fineqia is building out its alternative finance business and holds a growing portfolio of blockchain, fintech and cryptocurrency technology companies worldwide.
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SOURCE Fineqia International Inc.