Fineqia International Inc
London (ots/PRNewswire)
Analysis of global exchange-traded products (ETPs) with digital currencies as underlying assets conducted by Fineqia International Inc. (the “Company” or “Fineqia”) (CSE: FNQ) (OTC: FNQQF) (Frankfurt: FNQA) revealed that the total assets under management (AUM) is up 66%, representing a 29% increase in value versus the broader digital asset market, which has grown 51% over the four months of this calendar year.
Year to date, assets under management have grown from $19.9 billion to $32.6 billion, while the market value of digital assets has grown from $796 billion to $1.2 trillion. In April alone, the total volume fell by 2% from $33.3 billion to $32.6 billion, while the total value of cryptocurrencies remained stable at around $1.2 trillion.
“The rising AUM figures show that investors have a healthy interest in securities backed by digital assets this year,” said Fineqia CEO Bundeep Singh Rangar. “They had an opportunity in April to review their positions ahead of the Fed’s May 3 interest rate decision.”
Bitcoin (BTC) price touched $29,200 on April 30, up 2.5% from $28,500 on March 31. During the same period, assets under management of ETPs holding BTC fell 2% from $23.2 billion to $22.6 billion. Ethereum (ETH) price surged from around $1,825 to $1,910, up 4.7% in April. Assets under management of Ethereum (ETH)-denominated exchange-traded products fell 1.7% to $7.5 billion on April 30, compared to $7.6 billion.
ETPs representing alternative coins fell 3.2%, while ETPs representing a basket of cryptocurrencies posted a 1.3% gain in assets under management in April.
The data shows a 30% year-over-year decline in the total crypto market value compared to the $1.7 trillion seen on April 30 last year.
ETPs include Exchange Traded Funds (ETFs) and Exchange Traded Notes (ETNs). Fineqia’s analysis is sourced from publicly available sources such as Grayscale Investment LLC and VanEck Associates Corp. compiled. Fineqia’s research department tracks 155 digital asset-backed ETPs and provides regular insights into the market.
All prices are in USD and all cryptocurrency prices are from CoinMarketCap.
About Fineqia International Inc.
Phoenicia ( www.fineqia.com) is a digital asset company that makes targeted 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 UK debt issuance. Fineqia is a Canadian public company (CSE: FNQ) with offices in Vancouver and London. Its investment portfolio includes companies that are leaders in tokenization, blockchain technology, NFTs and fintech.
FORWARD LOOKING STATEMENTS
Certain statements in this press release may contain forward-looking information (as defined under applicable Canadian securities laws) (“forward-looking statements”). Any statements, other than statements of historical fact, relating to activities, events or developments that Fineqia (the “Company”) believes, expects or foresees will or may occur in the future (including but not limited to Statements regarding potential acquisitions and financings) are forward-looking statements. Forward-looking statements are generally qualified by the use of the words “may”, “will”, “should”, “continue”, “expect”, “anticipate”, “estimate”, “believe”, “intend”, “plan” or “project” or the negative of these words or other variations of these words or comparable terminology. Forward-looking statements are subject to a number of risks and uncertainties, many of which are beyond the Company’s ability to control or predict, and which could cause the Company’s actual results to differ materially from those projected in the forward-looking statements. Factors that could cause actual results or events to differ materially from current expectations include, without limitation, failure to raise sufficient funds and other risks described in the public filings of the company are listed. Any forward-looking statement speaks only as of the date on which it is made, except as required by applicable securities laws. The Company disclaims any intention or obligation to update any forward-looking statement, except as required under applicable securities laws.
Contact:
Katarina Kupcikova, Analyst, [email protected]@nominis.co
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