What if Grayscale was an ETF… how would it rank globally?
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Answer What if Grayscale was an ETF… how would it rank globally?
After rising prices and setting new records for large cryptocurrencies such as Bitcoin and Ethereum, the world’s largest digital asset manager reached a new record of its own in terms of assets under management exceeding $ 60 billion.
Interestingly, if the company operated as an ETF, it would be in 19th place.
If Grayscale was an ETF, it would be in the top 20 list:
Launched in 2013, Grayscale is the largest crypto asset manager managing over $60 billion in assets as of yesterday’s update.
To get a clear view of this meteoric rise, one must bear in mind that just two years ago, at the end of 2019, total assets under management were around $2 billion.
Read:Decentralized finance projects “DeFi” rebound and total closed value “TVL” reaches a new record
Meaning it increased tenfold in 2020 and is now 200% high in 2021.
Regardless of Grayscale being a pioneer in the cryptocurrency industry, these numbers have propelled Grayscale to the main stage among traditional financial instruments.
Although it is not an exchange-traded fund (yet), it is interesting to compare how it performs against the largest funds in the world.
Shows data frometfdb.comThe leading such producer, the SPDR S&P 500 ETF Trust, has more than $400 billion in assets under management.
In addition, there are giants such as the iShares Core S&P 500 ETF ($325 billion), the Vanguard Total Stock Market ETF ($290 billion), and the Vanguard S&P 500 ETF ($275 billion).
With $60 billion, Grayscale ranks 19th in this ranking.
Interestingly, it would have been ahead of the largest ETF to track the performance of gold and SPDR gold stocks.
GBTC aims to become an ETF:
While talking about ETFs, it is worth noting that Grayscale’s primary mission since its inception eight years ago has been to convert the largest GBTC trust fund into an exchange-traded fund.
As a US-based company, the mere thought of getting an ETF approved by the SEC is science fiction, at least until October of this year.
Read:What is the highest price reached for Bitcoin?
The situation changed when the watchdog allowed two bitcoin futures ETFs in a week.
Although they were both based on futures contracts, the community believed that a spot bitcoin ETF could be very close to approval.
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