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Highlights:
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Fineqia International Inc reported a month-over-month increase in assets under management (AUM) for global exchange-traded products (ETPs) linked to digital assets, rising to $88.8 billion in September, a 6% increase from August.
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Year-to-date, total AUM has surged 79%, significantly outpacing the growth of underlying digital assets by 150%.
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Despite a decline in Q3, alternative coin ETPs and basket ETPs showed resilience with a 9.6% increase in AUM in September, indicating a growing diversification in the market.
Fineqia International Inc {OTC:FNQQF} has released an analysis indicating a significant increase in assets under management (AUM) for global exchange-traded products (ETPs) that are tied to digital assets. In September, AUM rose to $88.8 billion, marking a 6% increase from the $83.6 billion recorded at the end of August. This growth trajectory reflects a substantial year-to-date increase of 79% from $49.5 billion, far surpassing the growth rate of underlying digital assets, which rose by 150%.
During the same period, the total market value of digital assets climbed by 11.3% to reach $2.33 trillion. The digital assets market capitalization also witnessed a year-to-date growth of 31.5%, rising from $1.8 trillion at the close of 2023. A significant contributor to the rise in AUM has been the approval of Bitcoin (BTC) Spot ETFs, which launched in January and have since attracted cumulative net inflows of approximately $18.9 billion.
The AUM of Bitcoin-based ETPs has soared by 102% year-to-date, hitting $72.1 billion by September. Concurrently, Bitcoin’s price surged by 51% this year, climbing to $63,725 from $42,290 at the end of 2023.
Fineqia CEO Bundeep Singh Rangar commented, "While BTC 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. Bitcoin planted the seeds of growth, and now the rest of the market is reaping the rewards."
Moreover, the analysis showed that alternative coin ETPs, which track assets beyond Bitcoin, experienced a 9.6% increase in AUM in September, reaching $3.43 billion. Basket ETPs, representing a diversified range of cryptocurrencies, also posted a 9.6% growth, bringing their AUM to $3 billion.
Despite a 2% decline in Q3, diversified basket ETPs rebounded strongly in September. Ethereum (ETH)-based ETPs experienced a mixed performance, with their price increasing by 3.7% to $2,612 in September, but falling by 23.4% during Q3. The AUM for Ethereum ETPs dropped from $14 billion at the end of June to $10.2 billion by September, largely attributed to outflows from the Grayscale Ethereum ETF following its conversion from a trust. However, positive inflows of $85 million in the last week of September suggest renewed investor interest and a potential turning point for Ethereum-related products.
