Digital asset exchange-traded products broke a two-month losing streak in July, but investors largely stayed on the sidelines as the broader crypto market surged, according to a new analysis from Fineqia International Inc (CSE:FNQ).

Total assets under management (AUM) across global digital asset ETPs edged up 1.8% to $108.7 billion, a modest gain that senior associate Matteo Greco said was driven by rising token prices rather than fresh investor demand.

Total digital asset market capitalization rose 6.4% during the month, climbing to $2.26 trillion from $2.12 trillion. The roughly 4.7 percentage point gap between ETP AUM growth and market cap growth suggests higher underlying asset prices were partly offset by net redemptions from…