8 months ago
Several precocious launched spot Bitcoin ETFs present fertile alongside the largest commodity ETFs successful presumption of assets nether absorption (AUM).
Combining VettaETF’s database of commodity ETFs with its database of blockchain ETFs produces the pursuing results:
| Rank | Ticker | Name | AUM (in millions of dollars) |
| 1 | GLD | SPDR Gold Shares | 56,206.8 |
| 2 | IAU | iShares Gold Trust | 26,062.5 |
| 3 | GBTC | Grayscale Bitcoin Trust | 20,519 |
| 4 | SLV | iShares Silver Trust | 10,120.2 |
| 5 | GLDM | SPDR Gold MiniShares Trust | 6,378.47 |
| 6 | PDBC | Invesco Optimum Yield Diversified Commodity Strategy No K-1 ETF | 4,584.34 |
| 7 | IBIT | IShares Bitcoin Trust | 2,837 |
| 8 | SGOL | abrdn Physical Gold Shares ETF | 2,748.48 |
| 9 | FBTC | Fidelity Wise Origin Bitcoin Fund | 2,535 |
| 10 | FTGC | First Trust Global Tactical Commodity Strategy Fund | 2,285.25 |
That information indicates that Grayscale’s GBTC has $20.5 cardinal successful AUM, making it the 3rd largest commodity ETF aft 2 golden ETFs.
Meanwhile, BlackRock’s IBIT is the seventh largest ETF connected the list, with $2.8 cardinal successful AUM. Fidelity’s FBTC is the ninth largest, with $2.5 cardinal successful AUM.
Two different spot Bitcoin ETFs are not shown successful the supra illustration but fertile among the apical 25 commodity ETFs by assets nether management. ARK 21Shares’s ARKB money has $665 cardinal successful AUM and ranks astatine #25. Bitwise’s BITB money has $641 cardinal successful AUM and ranks astatine presumption #26.
BTC ETFs are mostly considered commodities ETFs
Though VettaETF does not see spot Bitcoin ETFs wrong its database of commodity ETFs, plus managers mostly see this the case.
BlackRock, for example, labels IBIT a commodity ETF connected its website. Similarly, Ark Invest refers to ARKB arsenic an Indexed Commodity ETF. Grayscale, meanwhile, has called GBTC the second-largest commodity-based ETF — a connection made earlier its existent presumption arsenic the third-largest ETF of that type.
However, this is not universal: Bitwise and Fidelity bash not look to statement their products arsenic commodity ETFs. Most plus managers besides admit successful a disclaimer that their money is not registered nether the Investment Company Act of 1940 (which partially affects a fund’s engagement successful commodities trading) and is not a commodity excavation nether the Commodity Exchange Act.
Spot Bitcoin ETFs gained support from the U.S. Securities and Exchange Commission (SEC) successful January. SEC seat Gary Gensler referred to the funds arsenic “ETPs holding [a] non-security commodity, Bitcoin” successful his support statement.
The station Spot Bitcoin ETFs fertile among largest commodity ETFs by assets held appeared archetypal connected CryptoSlate.
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