{"id":365432,"date":"2021-11-11T12:12:10","date_gmt":"2021-11-11T09:12:10","guid":{"rendered":"https:\/\/en.buradabiliyorum.com\/dropgold-worked-grayscale-flippens-worlds-largest-gold-fund-as-aum-hits-60b\/"},"modified":"2021-11-11T12:12:10","modified_gmt":"2021-11-11T09:12:10","slug":"dropgold-worked-grayscale-flippens-worlds-largest-gold-fund-as-aum-hits-60b","status":"publish","type":"post","link":"https:\/\/buradabiliyorum.com\/en\/dropgold-worked-grayscale-flippens-worlds-largest-gold-fund-as-aum-hits-60b\/","title":{"rendered":"# &#8216;#DropGold worked&#8217; \u2014 Grayscale &#8216;flippens&#8217; world&#8217;s largest gold fund as AUM hits $60B"},"content":{"rendered":"<div id=\"ez-toc-container\" class=\"ez-toc-v2_0_85 counter-hierarchy ez-toc-counter ez-toc-custom ez-toc-container-direction\">\n<p class=\"ez-toc-title\" style=\"cursor:inherit\">Table of Contents<\/p>\n<label for=\"ez-toc-cssicon-toggle-item-6a3d1f46abab8\" class=\"ez-toc-cssicon-toggle-label\"><span class=\"\"><span class=\"eztoc-hide\" style=\"display:none;\">Toggle<\/span><span class=\"ez-toc-icon-toggle-span\"><svg style=\"fill: #dd3333;color:#dd3333\" xmlns=\"http:\/\/www.w3.org\/2000\/svg\" class=\"list-377408\" width=\"20px\" height=\"20px\" viewBox=\"0 0 24 24\" fill=\"none\"><path d=\"M6 6H4v2h2V6zm14 0H8v2h12V6zM4 11h2v2H4v-2zm16 0H8v2h12v-2zM4 16h2v2H4v-2zm16 0H8v2h12v-2z\" fill=\"currentColor\"><\/path><\/svg><svg style=\"fill: #dd3333;color:#dd3333\" class=\"arrow-unsorted-368013\" xmlns=\"http:\/\/www.w3.org\/2000\/svg\" width=\"10px\" height=\"10px\" viewBox=\"0 0 24 24\" version=\"1.2\" baseProfile=\"tiny\"><path d=\"M18.2 9.3l-6.2-6.3-6.2 6.3c-.2.2-.3.4-.3.7s.1.5.3.7c.2.2.4.3.7.3h11c.3 0 .5-.1.7-.3.2-.2.3-.5.3-.7s-.1-.5-.3-.7zM5.8 14.7l6.2 6.3 6.2-6.3c.2-.2.3-.5.3-.7s-.1-.5-.3-.7c-.2-.2-.4-.3-.7-.3h-11c-.3 0-.5.1-.7.3-.2.2-.3.5-.3.7s.1.5.3.7z\"\/><\/svg><\/span><\/span><\/label><input type=\"checkbox\"  id=\"ez-toc-cssicon-toggle-item-6a3d1f46abab8\" checked aria-label=\"Toggle\" \/><nav><ul class='ez-toc-list ez-toc-list-level-1 ' ><li class='ez-toc-page-1 ez-toc-heading-level-2'><a class=\"ez-toc-link ez-toc-heading-1\" href=\"https:\/\/buradabiliyorum.com\/en\/dropgold-worked-grayscale-flippens-worlds-largest-gold-fund-as-aum-hits-60b\/#Praise_for_Grayscale_futures_ETFs\" >Praise for Grayscale, futures ETFs<\/a><\/li><li class='ez-toc-page-1 ez-toc-heading-level-2'><a class=\"ez-toc-link ez-toc-heading-2\" href=\"https:\/\/buradabiliyorum.com\/en\/dropgold-worked-grayscale-flippens-worlds-largest-gold-fund-as-aum-hits-60b\/#Grayscale_notes_%E2%80%9Cpolitical%E2%80%9D_involvement_in_spot_ETF_approval\" >Grayscale notes &#8220;political&#8221; involvement in spot ETF approval<\/a><\/li><\/ul><\/nav><\/div>\n<p>&#8220;<strong># &#8216;#DropGold worked&#8217; \u2014 Grayscale &#8216;flippens&#8217; world&#8217;s largest gold fund as AUM hits $60B <\/strong>&#8221;<\/p>\n<div class=\"post-content\" data-v-128018ef>Bitcoin (BTC) an altcoin investment firm Grayscale now has more assets under management (AUM) than the world&#8217;s biggest gold fund.<\/p>\n<p>According to the <a rel=\"nofollow noopener\" target=\"_blank\" href=\"https:\/\/grayscale.com\/products\/grayscale-bitcoin-trust\/\">latest data<\/a> from issuer Grayscale, Grayscale now controls over $60 billion \u2014 $1.7 billion more than leading gold fund, SPDR Gold Shares (GLD).<\/p>\n<h2><span class=\"ez-toc-section\" id=\"Praise_for_Grayscale_futures_ETFs\"><\/span>Praise for Grayscale, futures ETFs<span class=\"ez-toc-section-end\"><\/span><\/h2>\n<p>Grayscale&#8217;s flagship Bitcoin product, the Grayscale Bitcoin Trust (GBTC), meanwhile contains over 646,000 BTC, worth around $41.75 billion as of Nov. 11.<\/p>\n<p>The figures add to the debate over gold as a store of value and inflation hedge versus Bitcoin, as inflation cuts through the U.S. and global economies.<\/p>\n<p>With gold flagging compared to BTC\/USD, the allure of giving capital Bitcoin exposure has arguably never made more sense. <\/p>\n<figure><img decoding=\"async\" src=\"https:\/\/s3.cointelegraph.com\/uploads\/2021-11\/9f43f2e9-4315-478f-bc82-1b4cdc2abbc6.png\"><figcaption style=\"text-align: center;\"><em>GBTC price, holdings and premium chart. Source: Coinglass<\/em><\/figcaption><\/figure>\n<p>A month after the first Bitcoin futures exchange-traded funds (ETFs) launched, volumes are &#8220;massive,&#8221; Bloomberg analyst Eric Balchunas said this week.<\/p>\n<p>The first licensed U.S. Bitcoin futures ETF, the ProShares Bitcoin Stategy ETF, is nearing 50% of the options volume seen in GLD.<\/p>\n<blockquote class=\"twitter-tweet\">\n<p lang=\"en\" dir=\"ltr\">The options volume today on <a rel=\"nofollow noopener\" target=\"_blank\" href=\"https:\/\/twitter.com\/search?q=%24BITO&amp;src=ctag&amp;ref_src=twsrc%5Etfw\">$BITO<\/a> was MASSIVE for a new launch. It&#8217;s also been growing quickly, can see via the avgs. For context, it&#8217;s already seeing about half the options volume as <a rel=\"nofollow noopener\" target=\"_blank\" href=\"https:\/\/twitter.com\/search?q=%24GLD&amp;src=ctag&amp;ref_src=twsrc%5Etfw\">$GLD<\/a> (which is stud level). <a rel=\"nofollow noopener\" target=\"_blank\" href=\"https:\/\/t.co\/3sBYtgASkk\">pic.twitter.com\/3sBYtgASkk<\/a><\/p>\n<p>\u2014 Eric Balchunas (@EricBalchunas) <a rel=\"nofollow noopener\" target=\"_blank\" href=\"https:\/\/twitter.com\/EricBalchunas\/status\/1458549359390437376?ref_src=twsrc%5Etfw\">November 10, 2021<\/a><\/p><\/blockquote>\n<p><script async src=\"https:\/\/platform.twitter.com\/widgets.js\" charset=\"utf-8\"><\/script><\/p>\n<p>&#8220;Guess the #DropGold campaign worked,&#8221; investor and analyst Kevin Rooke <a rel=\"nofollow noopener\" target=\"_blank\" href=\"https:\/\/twitter.com\/kerooke\/status\/1458670612726095874\">added<\/a>, noting that $GBTC, meanwhile, had &#8220;flippened&#8221; GLD in terms of AUM.<\/p>\n<h2><span class=\"ez-toc-section\" id=\"Grayscale_notes_%E2%80%9Cpolitical%E2%80%9D_involvement_in_spot_ETF_approval\"><\/span>Grayscale notes &#8220;political&#8221; involvement in spot ETF approval<span class=\"ez-toc-section-end\"><\/span><\/h2>\n<p>As Cointelegraph reported, GBTC itself is set to convert to an ETF, subject to U.S. regulatory <a href=\"https:\/\/buradabiliyorum.com\/en\/category\/download-scripts-themes-apps\/\" data-internallinksmanager029f6b8e52c=\"9\" title=\"Download Scripts &amp; Themes &amp; Apps\" target=\"_blank\" rel=\"noopener\">app<\/a>roval, as early as summer 2022.<\/p>\n<p><strong><em>Related:\u00a0Proshares Bitcoin futures fund in top 2% of all ETFs for volume<\/em><\/strong><\/p>\n<p>In an <a rel=\"nofollow noopener\" target=\"_blank\" href=\"https:\/\/edition.cnn.com\/videos\/business\/2021\/11\/10\/markets-now-full-show-11-10-2021-sonnenshein-bertram-dale.cnnbusiness\">interview<\/a> with CNN this week, Grayscale CEO Michael Sonnenshein appeared cool on the tense topic of regulatory approval of Bitcoin spot ETFs, with the first decision due next week.<\/p>\n<p>Gary Gensler, the Chair of the Securities and Exchange Commission (SEC), remains tight-lipped on the potential for the watershed moment.<\/p>\n<p>&#8220;What&#8217;s been interesting to see, however, is this is not just a regulatory issue now; this has become a political issue,&#8221; Sonnenshein told the network.<\/p>\n<blockquote><p>&#8220;In the last week we actually saw bipartisan support for a Bitcoin spot ETF, with Reps. Emmer and Soto submitting a letter to chairman Gensler actually calling for the approval of a Bitcoin spot ETF and really wanting to ensure there&#8217;s a level playing field for investors as they choose between what could be a futures-based product for them or a spot-based product for them.&#8221;<\/p><\/blockquote>\n<p>Futures ETFs were in line for subtle criticism, however, these having garnered scorn from other institutional sources since October.<\/p>\n<p>&#8220;We&#8217;ve seen now the approval of the first Bitcoin futures-based ETF, which is a really important moment for our industry and something that we&#8217;re all very excited about,&#8221; he added. <\/p>\n<blockquote><p>&#8220;But as folks have been drilling in on this, they&#8217;ve come to realize that perhaps the embedded roll costs and some of the other features in the futures products may in fact make it not as optimal for investors looking for\u00a0Bitcoin exposure in their portfolios.&#8221;<\/p><\/blockquote>\n<figure><img decoding=\"async\" src=\"https:\/\/s3.cointelegraph.com\/uploads\/2021-11\/da086192-75c1-4ecd-8be7-bc6aef8d8bdd.png\"><figcaption style=\"text-align: center;\"><em>Bitcoin ETF approval timeline. Source: Arcane Research<\/em><\/figcaption><\/figure>\n<p><template data-name=\"subscription_form\" data-type=\"markets_outlook\"><\/template><\/div>\n<blockquote><p><strong><span style=\"color: #ff6600;\">If you liked the article, do not forget to share it with your friends. Follow us on\u00a0<span style=\"color: #ff0000;\"><a style=\"color: #ff0000;\" href=\"https:\/\/news.google.com\/publications\/CAAqBwgKMLG0nwswvr63Aw\" target=\"_blank\" rel=\"nofollow noopener noreferrer\">Google News<\/a><\/span>\u00a0too, click on the star and choose us from your favorites.<\/span><\/strong><\/p><\/blockquote>\n<blockquote>\n<p style=\"text-align: center;\">For forums sites go to <span style=\"color: #ff9900;\"><a style=\"color: #ff9900;\" href=\"https:\/\/forum.buradabiliyorum.com\/\" target=\"_blank\" rel=\"noopener\">Forum.BuradaBiliyorum.Com<\/a><\/span><\/strong>\n<\/p><\/blockquote>\n<blockquote>\n<p style=\"text-align: center;\"><strong>If you want to read more <a href=\"https:\/\/buradabiliyorum.com\/en\/category\/news\/\" data-internallinksmanager029f6b8e52c=\"2\" title=\"News\" target=\"_blank\" rel=\"noopener\">News<\/a> articles, you can visit our <span style=\"color: #ff9900;\"><a style=\"color: #ff9900;\" href=\"https:\/\/en.buradabiliyorum.com\/general\/\" target=\"_blank\" rel=\"noopener\">General category.<\/a><\/span><\/strong><\/p>\n<\/blockquote>\n<p><span style=\"color: black;\"><a style=\"color: #ff9900;\" href=\"https:\/\/cointelegraph.com\/news\/dropgold-worked-grayscale-flippens-world-s-largest-gold-fund-as-aum-hits-60b\" target=\"_blank\" rel=\"noopener\">Source<\/a><\/span><\/p>\n","protected":false},"excerpt":{"rendered":"<p>&#8220;# &#8216;#DropGold worked&#8217; \u2014 Grayscale &#8216;flippens&#8217; world&#8217;s largest gold fund as AUM hits $60B &#8221; Bitcoin (BTC) an altcoin investment firm Grayscale now has more assets under management (AUM) than the world&#8217;s biggest gold fund. According to the latest data from issuer Grayscale, Grayscale now controls over $60 billion \u2014 $1.7 billion more than leading&#8230;<\/p>\n","protected":false},"author":1,"featured_media":365433,"comment_status":"open","ping_status":"open","sticky":false,"template":"","format":"standard","meta":{"fifu_image_url":"https:\/\/images.cointelegraph.com\/images\/1200_aHR0cHM6Ly9zMy5jb2ludGVsZWdyYXBoLmNvbS91cGxvYWRzLzIwMjEtMTEvNjgxYTBjYmYtYTIzOS00NzhkLWI1ZTAtN2M2MTFmZTFiZGRhLmpwZw==.jpg","fifu_image_alt":"","footnotes":""},"categories":[1],"tags":[74862,74863,75849,82548,76550,73785],"class_list":["post-365432","post","type-post","status-publish","format-standard","has-post-thumbnail","hentry","category-general","tag-bitcoin","tag-cryptocurrencies","tag-etf","tag-gbtc","tag-grayscale","tag-markets"],"_links":{"self":[{"href":"https:\/\/buradabiliyorum.com\/en\/wp-json\/wp\/v2\/posts\/365432","targetHints":{"allow":["GET"]}}],"collection":[{"href":"https:\/\/buradabiliyorum.com\/en\/wp-json\/wp\/v2\/posts"}],"about":[{"href":"https:\/\/buradabiliyorum.com\/en\/wp-json\/wp\/v2\/types\/post"}],"author":[{"embeddable":true,"href":"https:\/\/buradabiliyorum.com\/en\/wp-json\/wp\/v2\/users\/1"}],"replies":[{"embeddable":true,"href":"https:\/\/buradabiliyorum.com\/en\/wp-json\/wp\/v2\/comments?post=365432"}],"version-history":[{"count":0,"href":"https:\/\/buradabiliyorum.com\/en\/wp-json\/wp\/v2\/posts\/365432\/revisions"}],"wp:featuredmedia":[{"embeddable":true,"href":"https:\/\/buradabiliyorum.com\/en\/wp-json\/wp\/v2\/media\/365433"}],"wp:attachment":[{"href":"https:\/\/buradabiliyorum.com\/en\/wp-json\/wp\/v2\/media?parent=365432"}],"wp:term":[{"taxonomy":"category","embeddable":true,"href":"https:\/\/buradabiliyorum.com\/en\/wp-json\/wp\/v2\/categories?post=365432"},{"taxonomy":"post_tag","embeddable":true,"href":"https:\/\/buradabiliyorum.com\/en\/wp-json\/wp\/v2\/tags?post=365432"}],"curies":[{"name":"wp","href":"https:\/\/api.w.org\/{rel}","templated":true}]}}