Fineqia International Inc (CSE:FNQ, OTC:FNQQF) announced that its analysis of global Exchange Traded Products (ETPs) with digital assets as underlying collateral showed Assets Under Management in the year-to-date increased to $83.6 billion in August.
The digital asset business said the growth in ETPs’ assets under management has exceeded the increase in value of their underlying crypto assets so far this year by more than 3.8 times.
ETPs’ assets under management increased by 69%, compared to an 18% rise in the overall digital assets market cap.
In August, ETPs’ assets under management decreased by 4% month-over-month while the total digital assets market cap fell by 8.4% to $2.09 trillion from $2.29 trillion at the end of July.
Fineqia attributed the premium to net inflows for Bitcoin ETPs, which they said has been the primary driver of ETP growth throughout the year.
Inflows in August were highest in Canada, Brazil and Switzerland, while BTC Spot ETFs in the US remained steady, with the total inflow since their creation at about $17.5 billion.
"BTC ETPs are spreading like mini wildfires across different jurisdictions, fueled by the success of US Bitcoin ETFs," Fineqia CEO Bundeep Singh Rangar commented.
"The US might have struck the match, but the blaze is now global."
Meanwhile, newly launched Ethereum Spot ETFs brought in more than $2 billion in net inflows offset by about $2.5 billion in outflows from the Grayscale Ethereum ETF.
Fineqia highlighted that this pattern is similar to what occurred when Bitcoin Spot ETFs launched, where inflows into new ETFs were partially offset by outflows from the Grayscale Bitcoin Trust after its conversion into an ETF.
The total number of ETPs has increased by 54 or 33% to 216 from January 1 this year. In August, the number rose by 6 from 210 at the end of July.