Crypto ETPs show resilience as overall market slides, Fineqia says
Published: 11:39 10 Nov 2025 EST
Investors kept piling into regulated crypto products in October even as digital assets cooled, according to a new report from digital asset firm Fineqia International Inc (CSE:FNQ, OTC:FNQQF).
Global exchange-traded products (ETPs) for digital assets ended the month with $212.7 billion in assets under management (AUM), down 2.5% from September’s $218.1 billion, according to Fineqia analysis.
October marked the fourth consecutive month with AUM above $200 billion, which Fineqia analyst Matteo Greco said reaffirmed steady institutional appetite for regulated exposure.
The broader digital asset market was not as forgiving, with total market capitalization sliding 5.5% to $3.78 trillion from $3.99 trillion. The smaller pullback in ETPs highlights the sector’s resilience. “The relative stability in ETP AUM once again highlighted investors’ longer-term approach and lower price sensitivity compared to direct digital asset holders,” Greco added.
Bitcoin-backed ETPs closed October at $168.1 billion in AUM, down just 0.9% from September. That contrasts with BTC itself, which fell 4.2% to $109,558. Year-to-date, Bitcoin ETP AUM has risen nearly 35%, outpacing BTC’s 17% price rise, and now accounts for roughly 7% of total BTC supply.
Ethereum ETPs also weathered the storm. ETH’s price dropped 7.1% to $3,847, yet ETP AUM fell only 5.6% to $30.9 billion, buoyed by $570 million in net inflows.
“Institutional demand for ETH ETPs remains robust, even as market momentum cooled following Q3’s record-breaking rally,” Greco noted.
Year-to-date, ETH ETPs have surged nearly 90%, far outpacing the underlying asset’s 15% rise.
Altcoins pull back, baskets gain
After a hot Q3, altcoin ETPs cooled in October, with AUM dropping 23.3% to $7.9 billion, while basket ETPs rose 6.3% to $5.8 billion. “The reversal highlights a flight to quality within the ETP market, as investors rotated back towards Bitcoin and Ethereum amid broader market volatility,” Greco said.
With 290 crypto ETPs now listed globally, a 28% increase since the start of the year, ETP AUM has jumped 41% in 2025, compared with an 11% rise in total crypto market capitalization. “The data reaffirms that digital asset ETPs are solidifying their role as the primary institutional gateway into the crypto ecosystem, bridging traditional finance with decentralized markets,” Greco said.
Even amid short-term market swings, Bitcoin and Ethereum ETPs continue to lead, while diversified baskets offer a steadier option, keeping institutional investors engaged.
