Grayscale investments, the largest Cryptocurrency A wealth manager in the world, he now manages more digital currencies than the largest gold fund in the world that manages gold. Grayscale reported on Twitter yesterday that the company is now investing over $60 billion for the first time Presumably under management (AUM) has:
Grayscale’s assets under management exceed $60 billion https://t.co/HvMnrpAFgd
– Barry Silbert November 10, 2021
By comparison, the world’s largest gold fund, SPDR Gold Shares (GLD), currently manages about $58.1 billion. This is followed by the iShares Gold Trust (IAU) fund of $28.9 billion, and the VanEck Vectors Gold Miners ETF (GDX) fund of $13.6 billion.
However, there is a caveat to be made here. Yesterday, several prices collapsed briefly, but later in the day they made an important bearish correction. This means that Grayscale’s managed assets may now be slightly below GLD again.
This also applies only to all crypto funds from Grayscale together. If you only do it Bitcoin (BTC) From Grayscale, Grayscale Bitcoin Trust (GBTC), the total reached $43.557 billion yesterday. That amount has fallen to $42 billion today.
Discussions have been going on for some time now about which asset should work better as an inflation hedge or a safe haven; Gold or Bitcoin? Opinions remain divided, but we are seeing more and more investors trading their gold for bitcoin. JPMorgan, the largest bank in the United States, announced this recently.
Grayscale has been responding to this for some time and has campaigned aggressively this year under the slogan “Down with the gold”. The crypto fund manager also wants to convert his bitcoin fund into a listed fund, i.e. exchange-traded fund (ETF). It would then be an instant ETF that the company recently applied for. That was when the first futures ETF was approved by the US Securities and Exchange Commission. Grayscale believes the product may be launched as early as this summer.
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