- Fineqia International (CSE:FNQ), a crypto technology investor, published its latest report taking the temperature of the global crypto exchange-traded product market
- The report offers ample evidence in support of growing enthusiasm for digital assets
- Fineqia is a digital asset business that builds and invests in early and growth-stage technology companies that will be part of the next generation of the internet
- Fineqia stock is down by 50 per cent year-over-year, as well as since 2019
Fineqia International (CSE:FNQ), a crypto technology investor, published its latest report taking the temperature of the global crypto exchange-traded product (ETP) market including 219 exchange-traded funds (ETFs) and notes – offering ample evidence in support of growing enthusiasm for digital assets.
The global crypto ETP market
The report shows that assets under management (AUM) rose to US$88.8 billion in September, up by 6 per cent from US$83.6 billion in August, by 1 per cent over Q2, and by 79 per cent from US$49.5 billion year-to-date, building on trends seen in Q1 and Q2 2024.
In September, the market value of digital assets grew to US$2.33 trillion, up by 11.3 per cent from US$2.1 trillion in August, down by 4.2 per cent quarter-over-quarter, and up by 31.5 per cent from US$1.8 trillion year-to-date.
The growth of ETP AUM has outpaced the rise in crypto asset value by 150 per cent year-to-date, driven primarily by the approval of spot Bitcoin ETFs in January, whose total inflows stand at approximately US$18.9 billion.
Altcoin ETPs
ETP AUM tracking an index of altcoins reached US$3.43 billion in September, up by 9.6 per cent from US$3.14 billion in August, by 6.1 per cent quarter-over-quarter from US$3.23 billion in Q2 and by 53.6 per cent from US$2.23 billion year-to-date.
Diversified crypto ETPs
ETP AUM tracking a diversified basket of cryptocurrencies hit US$3 billion in September, also adding 9.6 per cent from US$2.77 billion in August, while falling by 2 per cent quarter-over-quarter from US$3.1 billion in Q2 and adding 34.8 per cent from US$2.25 billion year-to-date.
Bitcoin ETPs
The price of Bitcoin reached US$63,725 in September, adding 7.9 per cent from US$59,050 in August, 3.1 per cent from US$61,825 in Q2 and 51 per cent from US$42,290 year-to-date.
The AUM of BTC ETPs, for their part, grew to US$72.1 billion in September, up by 6.5 per cent from US$67.7 billion in August, by 6.8 per cent quarter-over-quarter from US$67.5 billion in Q2, and by 102 per cent year-to-date from US$35.6 billion, continuing positive inflows over the past three quarters.
Ethereum ETPs
The price of Ethereum reached US$2,612 in September, rising by 3.7 per cent from US$2,519 in August, while dropping by 23.4 per cent quarter-over-quarter from US$3,409 in Q2, and adding 14.7 per cent from US$2,277 year-to-date.
The AUM of Ethereum ETPs hit US$10.2 billion in September, growing by 2.5 per cent from US$9.9 billion in August, while falling by 27.5 per cent quarter-over-quarter from US$14 billion in Q2, and increasing by 7.8 per cent from US$9.4 billion year-to-date.
Fineqia believes the data suggests “the substantial outflows from the Grayscale Ethereum ETF, following its conversion from a trust, caused net outflows in ETH ETPs,” according to Tuesday’s news release, with new ETPs launched having yet to offset these outflows.
However, the company notes that, in the last week of September, “ETH ETPs recorded approximately US$85 million of inflows that marked the first positive week after six consecutive weeks of outflows,” which “could indicate a trend reversal, with inflows possibly picking up in the coming weeks.”
Leadership insights
“While Bitcoin ETPs set the stage in the first half of the year, Q3 saw a more even playing field as altcoins and basket ETPs gained momentum,” Fineqia’s chief executive officer, Bundeep Singh Rangar, said in a statement. “Bitcoin planted the seeds of growth, and now the rest of the market is reaping the rewards.”
About Fineqia International
Fineqia is a digital asset business that builds and invests in early and growth-stage technology companies that will be part of the next generation of the internet. The company’s portfolio includes businesses at the forefront of tokenization, blockchain technology, NFTs, AI and fintech.
Fineqia stock (CSE:FNQ) is unchanged, trading at C$0.005 per share as of 11:11 am ET. The stock is down by 50 per cent year-over-year, as well as since 2019.
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