Fineqia International Inc (CSE:FNQ, OTC:FNQQF) said on Thursday that the net asset value (NAV) per unit of its Fineqia FTSE Cardano Enhanced Yield (YADA) Exchange Traded Note (ETN) rose 28.2% over the past month, outpacing the price increase of Cardano, the digital asset underlying the product.
The NAV of YADA increased to C$6.46 from C$5.04 per unit over a one-month period starting in February 2025, surpassing Cardano’s 27.5% rise to C$1.39 from C$1.09 in the same period, according to Fineqia.
The ETN generates yield from the Cardano ecosystem through decentralized finance (DeFi) protocols.
Launched in January by Fineqia’s subsidiary Fineqia AG, YADA has 7 million subscribed units.
The company said the ETN provides investors with a regulated way to gain exposure to digital assets while benefiting from blockchain-based yields.
“Cardano has been cited by the US government for its potential inclusion in the strategic cryptocurrency reserve,” Fineqia CEO Bundeep Singh Rangar said in a statement. “Premium growth of YADA reflects the effectiveness of our portfolio allocation.”
The product has attracted about C$45 million in subscriptions since its launch. Fineqia noted that assets under management for digital asset-backed exchange-traded products (ETPs) reached an all-time high of C$239.7 billion in January, a 10.4% increase from the prior month.
Cardano, a blockchain platform focused on scalability and security, ranks among the top 10 cryptocurrencies by market capitalization, with a market value of about C$48 billion. Its staking rewards and network efficiency contribute to YADA’s structured returns for investors.
The ETN is benchmarked to the FTSE Russell index.