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Global digital asset based ETPs AUM have grown 59 per cent YTD: Fineqia

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Digitial asset and fintech business Fineqia International has announced that its analysis of global ETPs with digital assets as underlying collateral, revealed a 59 per cent growth in total Assets Under Management (AUM) in the year-to-date period.

The AUM increase was at a 37 per cent premium to the underlying value of digital assets, which grew more slowly at 43 per cent since the beginning of the year. This can be attributed to the price rise of main digital assets that underpin ETPs such as bitcoin and Ethereum vis-à-vis smaller alternative coins, as well as capital inflows into these listed products, the firm says.

“The tide is higher now than at the beginning of the year, and it has lifted most ships,” says Fineqia CEO Bundeep Singh Rangar. “The market is holding steady at this higher watermark.”

The 43 per cent price gain since the beginning of the year overshadowed a 3 per cent decrease in AUM in the month of May, to USD31.7 billion from USD32.6 billion, and the 5 per cent monthly decline in the overall value of crypto assets to USD1.14 trillion from about USD1.20 trillion, the firm says.

The total value of the crypto market at the end of May this year was 13 per cent lower than that at the end of May last year, marking the smallest year-on-year decrease so far this year.

Bitcoin (BTC) dropped 7 per cent in May, declining to USD27,200 from USD29,200 recorded on April 30. The AUM of ETPs holding BTC correspondingly decreased by 4 per cent, reaching USD21.7 billion from USD22.6 billion.

Ethereum ( ETH ) decreased 2 per cent in value, dropping to USD1,875 from about USD1,910. Ethereum (ETH ) denominated ETPs grew 1.6 per cent increase in AUM, however, reaching USD7.6 billion on May 31, compared with USD7.5 billion a month earlier.

ETPs representing alternative coins decreased 8.6 per cent, and those with a basket of cryptocurrencies declined 2.6 per cent in AUM.

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