Fineqia International Inc (CSE:FNQ, OTC:FNQQF) on Friday announced that its analysis of global exchange-traded products with digital assets as their underlying assets saw 5% growth in total cryptocurrency assets under management in January following the approval of Bitcoin (BTC) Spot exchange-traded funds (ETFs) in the United States.
The leading digital asset and fintech investment firm said total crypto assets under management increased from $49.5 billion to $52 billion last month.
Fineqia said its analysis also showed that during January the market value of crypto assets decreased by 2.7% from $1.77 trillion to about $1.73 trillion.
Fineqia attributed the difference between the growth in assets under management of crypto exchange-traded products and the market value of crypto assets to US approval of BTC Spot ETFs, which began trading on January 11 and has led to the increased injection of capital into crypto exchange-traded products.
Nine newly issued BTC Spot ETF products brought in inflows of approximately $6.9 billion, the firm said.
“The light has turned green and the (investor) traffic has started moving,” Fineqia CEO Bundeep Singh Rangar said in a statement.
“More drivers are joining the ETF roadway as their confidence grows in digital assets.”
Fineqia 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.