Fineqia International Inc (CSE:FNQ, OTC:FNQQF) announced that its analysis of global exchange traded products (ETPs) with digital assets as their underlying collateral has shown that assets under management (AUM) reached a record high of $150 billion in November, more than triple the beginning of the year.
The growth of ETPs outperformed the broader digital asset market, up 203% so far this year.
The company attributed the surge to the US presidential election results with Donald Trump’s win signalling “sweeping changes in favor of digital asset legitimization and utilization.”
This built on momentum from the introduction of Bitcoin Spot ETFs in January, which have attracted net inflows of approximately $30.7 billion.
"The change at the top of the world's biggest economy toward a crypto friendly president marks a watershed moment for the future of digital assets," Fineqia CEO Bundeep Singh Rangar said.
"It signals accelerated adoption of such assets with changes expected in US enforcement, legislation and regulation. This is having a ripple effect on a plethora of cryptocurrencies that are traded worldwide around the clock."
A new record was set for the overall market capitalization of digital assets in November, growing 40.7% month-over-month to $3.57 trillion.
The price of Bitcoin increased 37.2% from the previous month to $96,485 and during the same period, the AUM of Bitcoin ETPs was up 49.6% at $124.4 billion.
Ethereum increased 47.2% month-over-month to $3,711, while AUM of Ethereum ETPs increased 44% to $14.9 billion.
In November, ETH spot ETFs achieved a milestone as cumulative net flows turned positive for the first time, with total inflows reaching $573 million since their launch, Fineqia noted in its analysis. The month alone saw nearly $1.1 billion in inflows, primarily fueled by strong demand in the US.