Fineqia International Inc (CSE:FNQ, OTC:FNQQF) announced that its analysis of worldwide digital asset-based Exchange Traded Products (ETFs) found assets under management reached a record $80.5 billion in February.
This marked a 55% increase from $52 billion in the previous month, the company highlighted.
The 55% rise was nearly 50% higher than the increase in the value of underlying crypto assets, which grew 37% from $1.73 trillion to $2.37 trillion. Fineqia attributed this premium to the approval of Bitcoin Spot Exchange Traded Funds (ETFs) in the United States, which began trading on January 11.
The price of Bitcoin increased by 41.4% in February from $43,000 at the end of January to $61,250.
Assets under management in ETPs with Bitcoin as their underlying asset saw a 59.5% increase to $60.6 billion from $38 billion over the same period.
"If you can't beat 'em, join 'em, is the mantra," Fineqia CEO Bundeep Singh Rangar said in a statement.
"Old school fund managers risk ignoring Bitcoin's unprecedented returns over the past 15 years at their own peril. The legitimization of the coin via spot ETFs, likely easing of interest rates and reduced token supply are all likely to support its rising price."
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. Its portfolio of investments includes businesses at the forefront of tokenization, blockchain technology, NFTs, AI, and Fintech.