15:54:03 EDT Thu 16 May 2024
Enter Symbol
or Name
USA
CA



Fineqia International Inc
Symbol FNQ
Shares Issued 1,354,563,299
Close 2023-07-11 C$ 0.005
Market Cap C$ 6,772,816
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Fineqia International boasts of AUM growth

2023-07-11 16:19 ET - News Release

Mr. Bundeep Rangar reports

WORLDWIDE DIGITAL ASSET BASED EXCHANGE TRADED PRODUCTS AUM GREW 76% YEAR-TO-DATE AND 10.7% IN JUNE

Fineqia International Inc.'s analysis of global exchange-traded products (ETPs) with digital assets as underlying collateral revealed a 76-per-cent growth in total assets under management (AUM) in the year-to-date (YTD) period amid renewed interest by investors.

The AUM increase was at a 52% premium to the underlying value of digital assets, which grew slower at 50% since the beginning of the year. This can be attributed to the price rise of the main digital asset that underpins ETPs, i.e., Bitcoin, vis-a-vis smaller alternative coins and as well to strong capital inflows into these listed products during the month of June.

"It's an upward trend so far this year, and that's attracting capital," said Fineqia CEO Bundeep Singh Rangar. "Recent ETF filings in the US signals a revival of interest among financial institutions."

Fidelity Investments, Invesco, VanEck, 21Shares and WisdomTree are among eight filings in the US for spot BTC Exchange Traded Funds (ETFs), sparked by BlackRock Inc.'s submission to the SEC on June 15.

Total crypto AUM increased 10.7% to $35.1 billion from $31.7 billion in June. During the same time, the overall value of crypto assets grew 4.7%, to about $1.20 trillion from $1.14 trillion. On a quarterly basis, the total AUM increased 5.5% in Q2, after growing 67% in Q1. The overall value of crypto assets grew by 0.6% during Q2 after a 49% increase during Q1.

Bitcoin (BTC) price increased 12% in June, to $30,500 from $27,200 recorded on May 31. The AUM of ETPs holding BTC correspondingly increased by 14%, reaching $24.8 billion from $21.7 billion. In Q2, both BTC price and AUM of ETPs holding BTC increased by 7%.

Ethereum (ETH) rose 3% in value to $1,930 from about $1,875. ETH denominated ETPs AUM dovetailed this rise, growing 3% to $7.8 billion on June 30, compared with $7.6 billion a month earlier.

ETPs representing alternative coins increased 1%, and those with a basket of cryptocurrencies rose 7% in AUM.

ETPs include 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 154 as of the end of June.

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

The ETP and ETF AUM data referenced in this announcement were compiled from reputable sources, including 21Shares AG, Grayscale Investment LLC, VanEck Associates Corp., MorningStars, 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. 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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