Spot Bitcoin ETFs rank among largest commodity ETFs by assets held

A number of just lately launched spot Bitcoin ETFs now rank alongside the largest commodity ETFs when it comes to assets beneath administration (AUM).

Combining VettaETF’s listing of commodity ETFs with its listing of blockchain ETFs produces the next outcomes:

Rank Ticker Identify AUM (in tens of millions of {dollars})
1 GLD SPDR Gold Shares 56,206.8
2 IAU iShares Gold Belief 26,062.5
3 GBTC Grayscale Bitcoin Belief 20,519
4 SLV iShares Silver Belief 10,120.2
5 GLDM SPDR Gold MiniShares Belief 6,378.47
6 PDBC Invesco Optimum Yield Diversified Commodity Technique No Okay-1 ETF 4,584.34
7 IBIT IShares Bitcoin Belief 2,837
8 SGOL abrdn Bodily Gold Shares ETF 2,748.48
9 FBTC Constancy Sensible Origin Bitcoin Fund 2,535
10 FTGC First Belief World Tactical Commodity Technique Fund 2,285.25

That knowledge signifies that Grayscale’s GBTC has $20.5 billion in AUM, making it the third largest commodity ETF after two gold ETFs.

In the meantime, BlackRock’s IBIT is the seventh largest ETF on the listing, with $2.8 billion in AUM. Constancy’s FBTC is the ninth largest, with $2.5 billion in AUM.

Two different spot Bitcoin ETFs are usually not proven within the above chart however rank among the highest 25 commodity ETFs by assets beneath administration. ARK 21Shares’s ARKB fund has $665 million in AUM and ranks at #25. Bitwise’s BITB fund has $641 million in AUM and ranks at place #26.

BTC ETFs are usually thought of commodities ETFs

Although VettaETF doesn’t embody spot Bitcoin ETFs inside its listing of commodity ETFs, asset managers usually take into account this the case.

BlackRock, for instance, labels IBIT a commodity ETF on its web site. Equally, Ark Make investments refers to ARKB as an Listed Commodity ETF. Grayscale, in the meantime, has called GBTC the second-largest commodity-based ETF — a press release made earlier than its present standing because the third-largest ETF of that sort.

Nevertheless, this isn’t common: Bitwise and Constancy don’t seem to label their merchandise as commodity ETFs. Most asset managers additionally acknowledge in a disclaimer that their fund is just not registered beneath the Funding Firm Act of 1940 (which partially impacts a fund’s engagement in commodities buying and selling) and isn’t a commodity pool beneath the Commodity Alternate Act.

Spot Bitcoin ETFs gained approval from the U.S. Securities and Alternate Fee (SEC) in January. SEC chair Gary Gensler referred to the funds as “ETPs holding [a] non-security commodity, Bitcoin” in his approval assertion.

The publish Spot Bitcoin ETFs rank among largest commodity ETFs by assets held appeared first on CryptoSlate.

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