Spot Bitcoin ETFs rank among largest commodity ETFs by assets held
Diverse no longer too lengthy within the past launched space Bitcoin ETFs now heinous alongside the largest commodity ETFs in phrases of assets under administration (AUM).
Combining VettaETF’s checklist of commodity ETFs with its checklist of blockchain ETFs produces the following results:
| Defective | Ticker | Title | AUM (in millions of bucks) |
| 1 | GLD | SPDR Gold Shares | 56,206.8 |
| 2 | IAU | iShares Gold Believe | 26,062.5 |
| 3 | GBTC | Grayscale Bitcoin Believe | 20,519 |
| 4 | SLV | iShares Silver Believe | 10,120.2 |
| 5 | GLDM | SPDR Gold MiniShares Believe | 6,378.47 |
| 6 | PDBC | Invesco Optimum Yield Diverse Commodity Diagram No Okay-1 ETF | 4,584.34 |
| 7 | IBIT | IShares Bitcoin Believe | 2,837 |
| 8 | SGOL | abrdn Bodily Gold Shares ETF | 2,748.48 |
| 9 | FBTC | Constancy Wise Origin Bitcoin Fund | 2,535 |
| 10 | FTGC | First Believe Global Tactical Commodity Diagram Fund | 2,285.25 |
That records indicates that Grayscale’s GBTC has $20.5 billion in AUM, making it the third supreme commodity ETF after two gold ETFs.
Meanwhile, BlackRock’s IBIT is the seventh supreme ETF on the checklist, with $2.8 billion in AUM. Constancy’s FBTC is the ninth supreme, with $2.5 billion in AUM.
Two assorted space Bitcoin ETFs are no longer shown within the above chart but heinous amongst the high 25 commodity ETFs by assets under 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 area #26.
BTC ETFs are in overall regarded as commodities ETFs
Even supposing VettaETF would now not comprise space Bitcoin ETFs inner its checklist of commodity ETFs, asset managers in overall pay attention to this the case.
BlackRock, for instance, labels IBIT a commodity ETF on its web area. Similarly, Ark Invest refers to ARKB as an Indexed Commodity ETF. Grayscale, within the period in-between, has called GBTC the 2d-supreme commodity-based entirely entirely ETF — a assertion made sooner than its recent situation as the third-supreme ETF of that kind.
Nonetheless, right here’s no longer universal: Bitwise and Constancy reach no longer appear to impress their products as commodity ETFs. Most asset managers additionally acknowledge in a disclaimer that their fund isn’t very any longer registered under the Investment Company Act of 1940 (which partially impacts a fund’s engagement in commodities trading) and isn’t very any longer a commodity pool under the Commodity Alternate Act.
Build Bitcoin ETFs won approval from the U.S. Securities and Alternate Rate (SEC) in January. SEC chair Gary Gensler referred to the funds as “ETPs holding [a] non-security commodity, Bitcoin” in his approval assertion.
Source credit : cryptoslate.com
