Grayscale Has Surpassed The Largest Gold Fund In The World – Big Leap For Cryptocurrencies

Grayscale Has Surpassed The Largest Gold Fund In The World – Big Leap For Cryptocurrencies
фото показано с : zycrypto.com

2021-11-13 00:28

Grayscale has exceeded the biggest gold management fund in the world after the release of its updated holdings.The flip comes right after the CPI report that showed sky-high inflation levels.Grayscale has a Bitcoin spot ETF in its crosshairs as it seeks approval from the SEC.

Grayscale Investments has flipped the largest gold fund as Bitcoin enthusiasts score a point over their critics. Experts believe that the real flippening is still over the horizon for Bitcoin and digital currencies.

The Big Flip

Bitcoin is firmly entrenched as a $1 trillion asset and its market cap has been over this figure over the last two weeks. As investors braced themselves for a pullback, the Consumer Protection Index showed that the monthly inflation rate was at 6.2% which sent Bitcoin on a rally to $68K.

Still reeling from the report, Grayscale announced the value to be $60.8 billion in AUM. The Grayscale Bitcoin Trust is the largest of the products with $43.6 billion under its belt while its Ethereum Trust holds $14.9 billion. The update reveals that Grayscale Investments has now overtaken the leading gold fund, SPDR Gold Shares (GLD). SPDR Gold Shares has a net asset of $59.26 billion and now plays second fiddle to Grayscale.

The flip and recent inflation metrics cast a shadow of doubt over gold’s strength as a suitable hedge over inflation. Aside from rising inflation, approval of Bitcoin ETFs may have a role to play in the recent flippening and in particular the proposed conversion of the Grayscale Bitcoin Trust to a Bitcoin spot ETF.

In 2019, Grayscale launched the #Drop Gold campaign as a means to increase the adoption of cryptocurrencies. Following the success of the campaign, Barry Silbert, Grayscale’s CEO, commented that he was starting to think that the campaign was money well spent. Since its launch, the value of digital assets in its control has more than doubled.

The Real One

As BTC’s market cap briefly surpassed $1.3 trillion, it flipped the entire market capitalization of silver and pinned its focus on gold. Gold has an estimated market capitalization of over $11 trillion while silver of around $1.3 trillion. 

Bitcoin and the entire global cryptocurrency market capitalization fall below $3 trillion and will have to add an extra $9 trillion to its market capitalization before flipping the asset.

Some experts argue that inflation could be the trigger for the price of gold to come cascading down while Bitcoin surges ahead. MicroStrategy’s CEO, Michael Saylor has made calls for institutions to adopt Bitcoin over gold, referring to it as being a “superior store of value.”

Barry Sternlicht, a billionaire and serial investor was quoted to have said that “gold is kind of worthless” and revealed that he owns both Bitcoin and Ethereum.

Similar to Notcoin - Blum - Airdrops In 2024

origin »

Smart Investment Fund Token (SIFT) на Currencies.ru

$ 0 (+0.00%)
Объем 24H $0
Изменеия 24h: 0.00 %, 7d: 0.00 %
Cегодня L: $0 - H: $0
Капитализация $0 Rank 99999
Доступно / Всего 0 SIFT

grayscale world gold fund levels bitcoin showed

grayscale world → Результатов: 123


Фото:

Grayscale Investments Files with SEC to Convert GBTC Trust Into Spot Bitcoin ETF

As the first US SEC-approved Bitcoin futures ETF goes live, Grayscale Investments is eyeing to launch the US’s first spot BTC ETF. Grayscale Investments Files with the SEC for Spot Bitcoin ETF The world’s leading digital currency asset management firm Grayscale Investments today announced that NYSE Arca had filed with the US Securities and ExchangeRead More

2021-10-20 17:00


Фото:

Bitcoin, Ethereum, Cardano, Solana, Uniswap Thrives As Grayscale’s Digital Asset Portfolio Nears $50 Billion

World’s largest digital asset manager Grayscale now holds $48 billion worth of digital assets under management according to the latest numbers released by the firm. In a tweet meant to update its users yesterday, the firm shared details of its holdings per digital asset, revealing that its Grayscale Bitcoin Trust – the largest of the […]

2021-10-8 16:08


Фото:

Grayscale Large Cap Fund Adds Solana (SOL) and Uniswap (UNI)

The world’s largest digital currency asset manager Grayscale Investments has added Solana (SOL) and Uniswap (UNI) to its flagship Grayscale Digital Large Cap Fund. Solana and Uniswap Added to Grayscale Fund In a press release issued yesterday, Grayscale Investments announced the addition of high-throughput and low latency blockchain Solana (SOL) and leading Ethereum-based DeFi platformRead More

2021-10-2 16:00


Grayscale Investments and CoinDesk Indexes Launch Decentralized Finance (DeFi) Fund and Index

New York, July 19, 2021 — Grayscale Investments®, the world’s largest digital currency asset manager, and CoinDesk Indexes, a subsidiary of CoinDesk Inc., the most influential, trusted platform for a growing global community engaged in the transformation of the financial system and the emerging crypto economy, today announced the launch of Grayscale® Decentralized Finance (DeFi) Fund, a […] Сообщение Grayscale Investments and CoinDesk Indexes Launch Decentralized Finance (DeFi) Fund and Index появились сначала на Coinstelegram.

2021-7-19 22:58


Фото:

Grayscale Partners with BNY Mellon for ETF Services for GBTC Trust

Grayscale Investments today announced it has chosen BNY Mellon as an asset servicing provider for Grayscale Bitcoin Trust. Grayscale Investments Banks on BNY Mellon Grayscale Investments, the largest crypto-asset manager in the world in terms of AUM has inked a deal with leading American bank BNY Mellon as an asset servicing provider for its flagshipRead More

2021-7-14 09:00


Grayscale Takes Another Step Towards GBTC’s Conversion into a Bitcoin ETF, Partners with the World’s Largest Custodian

Grayscale says engaging BNY Mellon is an “important milestone" as part of our commitment to converting GBTC into an ETF; however, many feel a Bitcoin ETF might not be coming soon. The post Grayscale Takes Another Step Towards GBTC’s Conversion into a Bitcoin ETF, Partners with the World’s Largest Custodian first appeared on BitcoinExchangeGuide.

2021-7-13 18:23


Grayscale Buys A Stake in ClearShares; Helps Them Convert ‘PIFI’ to ‘BTC’ ETF

The world’s largest digital asset manager, Grayscale Investments, has purchased a stake in a little-known ETF provider, ClearShares. This is the same company that we reported this week filed with the Securities and Exchange Commission (SEC) to change its ticker from “PIFI” to “BTC,” effective from April 16, 2021.

2021-4-17 20:52


Grayscale Bitcoin Trust (GBTC) Is Fast Approaching World’s Largest Commodity ETF, GLD with $57B AUM

Grayscale reached the milestone of $50 billion AUM and CoinShares $5 billion, while the first-ever Bitcoin ETF of North America, BTCC, has amassed 17,500 BTC in just over two months. The post Grayscale Bitcoin Trust (GBTC) Is Fast Approaching World’s Largest Commodity ETF, GLD with B AUM first appeared on BitcoinExchangeGuide.

2021-4-15 15:21