Global crypto exchange-traded product AUM surges 39% in January as crypto markets top $1 trillion
LONDON, 13 February 2023 /PRNewswire/ – Fineqia International Inc.’s (the “Company” or “Fineqia”) (CSE: FNQ) (OTC: FNQQF) (Frankfurt: FNQA) analysis of global exchange-traded products (ETPs) with cryptocurrencies as underlying assets revealed an increase of 39% in the Assets Under Management (AUM) value during the month of January, while cryptocurrency Market capitalization increased by 33% over the same period, reflecting an 18% premium in ETP values due to investment inflows and appreciation relative to overall crypto valuations of assets.
The market value of cryptocurrencies surpassed $1 trillion mark for the first time since early November 2022ends the month at $1.05 trillion, up from $800 billion in December. Year-on-year data shows a decrease of 37% overall crypto market value compared to $1.7 trillion total value observed on February 1, 2022.
Total crypto ETP AUM increased to $27 billions from $20 billion between January 1 and February 1, according to Fineqia Research. Two new ETPs hit the market in January, bringing the total ETPs to 164 from 162 previously listed. The ETPs include Exchange Traded Funds (ETFs) and Exchange Traded Notes (ETNs).
“It is encouraging to see a robust recovery in the market, given the challenges in 2022,” said Bundeep Singh Rangar, CEO of Fineqia. “With falling inflation and a slowdown in rate hikes, financial markets are finally getting some much-needed relief.”
The price of Bitcoin (BTC) reached approx $22,800 February 1, an increase of 38% to $16,600 recorded 1 Jan. In the same period, AUM for ETPs holding BTC increased another 41% $19 billions from $13.5 billions.
During Jan, Ethereum (ETH) its price increased to approx $1550 from $1200, which reflects a 31% increase in value. AUM on Ethereum (ETH) nominal ETPs followed closely with an increase of 35% to $6.7 billion on 1 February, from $5 billion on 1 January.
ETPs representing altcoins rose 37%, and those with a basket of cryptocurrencies rose 29%. Year-on-year data still shows a 40% price decline for both Bitcoin and Ethereumbut today’s price level is the highest recorded since July 2022 for BTC and September 2022 to ETHand highlights the positive trend during the month of January.
All references to price are given in USD, and everything cryptocurrency prices are taken from CoinMarketCap.
Data referenced to ETP and ETF AUM was compiled from publicly available sources, including 21Shares AG, Grayscale Investment LLC, VanEck Associates Corp., MorningStars, Inc. and TrackInSight SAS by Fineqia’s internal research department.
About Fineqia International Inc.
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 related services to support securities issues and manage the administration of debt securities. Fineqia is expanding its alternative finance business and has a growing portfolio of blockchain, fintech and cryptocurrency technology companies worldwide.
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SOURCE Fineqia International Inc.