Digital asset manager Grayscale now has over $60 Billion in assets under management(AUM), exceeding the AUM of SPDR Gold Shares, the largest and most liquid gold exchange-traded fund (ETF) in the world.
Grayscale now controls $60.8 Billion in AUM, wheras SPDR has a current AUM of $58.3 billion. Bitcoin is the majority share of the AUM ($43.6 B)
Grayscale’s assets under management has topped $60 billion https://t.co/HvMnrpAFgd
— Barry Silbert (@BarrySilbert) November 10, 2021
Grayscale is planning to launch a Bitcoin spot ETF, and has also filed a formal application in US. To date, the SEC has rejected every Bitcoin ETF except for Proshares, Valkyrie and VanEck.
Grayscale CEO Michael Sonnenshein said that the debate around the approval of a Bitcoin spot ETF has "become a political issue," as members of Congress have weighed in. He also said that the crypto industry and politicians are making the case that "if you're comfortable with the derivatives […] and those futures contracts are deriving their pricing from the spot market itself, then you're inherently also saying you're comfortable with the spot market."