Fineqia International Inc (CSE:FNQ, OTC:FNQQF) earlier this week highlighted the continued growth and institutionalisation of crypto exchange-traded products (ETPs) worldwide. Speaking with Proactive, CEO Bundeep Singh Rangar said the value of crypto ETPs had grown from $40.00 billion to $120.00 billion, describing the shift as “the beginning of something big.”
The company said increased institutional adoption was a key driver of this growth. It noted that ETPs provide a familiar investment vehicle for exposure to crypto assets, helping to democratise access across both institutional and retail investors.
Proactive: Bundeep, very good to speak with you again. We're chatting about the growth in ETPs, in fact Crypto ETPs coming to market. And we have seen this gaining momentum in 2025. Do you see it continuing?
Bundeep Singh Rangar: Yeah. Look, that's been a big story for the past few already. You'll recall this watershed moment when the US approved ETFs that were backed by Bitcoin and soon after that, Ethereum. Now at that point we saw flow of about $40 billion into US-based ETFs. Well, that number is now about $120 billion worldwide. So that's been a growth that was kind of waiting to happen. The floodgates have opened.
Is that a one-time event or a trend? I think the fact that it's gone from $40 to $120 billion, and if you take year on year, it's going to about double from $60 billion to $120 billion—I think this is the beginning of something big.
Are we also seeing, apart from retail investors, institutional adoption of crypto ETPs?
That's really what's driving it. When you buy an ETP—exchange-traded products—they are effectively universal assets, similar to ETFs in North America. In Europe, they might be ETCs or ETNs. The point of listed securities denominated in crypto asset value is to make them accessible, just like buying a share in Microsoft or MicroStrategy. It democratises access to institutional-quality crypto asset-backed securities.
How about the push for the inclusion of crypto in mainstream investment funds, are there advocates for that?
Yes, there’s a big push. For example, in Europe we have UCITS schemes. In the US, the idea is to at least give clarity, because previously there was regulatory uncertainty—whether a digital asset was considered a security or not. If it fits within a framework like UCITS or AIFMD, then wealth managers and private bankers can offer them to clients. Without that clarity, the risk was too high, despite the interest.
Bundeep, you mentioned yield-bearing ETPs. Could you expand on that, please?
Sure. Initially, the goal was just to get exposure to crypto. Now, with more institutional involvement, there's interest in yield—regardless of the asset's price movement. There are about 240 ETPs backed by crypto worldwide. Around 40 of them are yield-bearing, and half of those launched in the past year. So that’s a clear trend and one that’s likely to grow.
We've talked about the United States and Europe, Bundeep. How about the launch of crypto ETPs in new markets?
Europe took the lead. In the US and Canada, we still see generation one ETPs—mostly buy-and-hold around Bitcoin and Ethereum. But now we’re seeing applications for coins like Solana, Ripple, and Sui. In Europe, these were already accepted. We're now into generation two—yield through staking—and even generation three: DeFi-based ETPs offering exposure to on-chain activities. Other markets like the UK, Hong Kong, Singapore, Australia, and South America are catching up. The question is how far each will go. Will they follow or leap ahead?
You mentioned Solana. Are there any other notable new cryptocurrency ETF filings in the US?
Yes, Sui and Ripple are two others. Interestingly, these match some of the coins discussed for inclusion in a potential US strategic reserve under the Trump administration. It’s no surprise that coins being touted for that reserve are also being targeted for ETP filings. Whether we’ll see a meme coin ETF is uncertain—maybe not in the US, but possibly in Europe.
You mentioned the irreversible path. So, is crypto here to stay as a mainstream investment open to all retail investors?
Bitcoin has been the best-performing asset over the past ten years. It’s the most divisible monetary unit. Use cases have expanded beyond Bitcoin and Ethereum to stablecoins—$27 trillion in stablecoin transactions last year, making up 40% of all on-chain activity. So yes, crypto is here to stay. The question is how it’s regulated, and which assets are accepted. But those opting out are opting out of a future that’s both exciting and potentially rewarding.
Quotes have been lightly edited for style and clarity