Bitcoin (BTC) and altcoin investment firm Grayscale now has more assets under management (AUM) than the world’s biggest gold fund.
According to the latest data from issuer Grayscale, Grayscale now controls over $60 billion — $1.7 billion more than the leading gold fund, SPDR Gold Shares (GLD).
Grayscale’s flagship Bitcoin product, the Grayscale Bitcoin Trust (GBTC), meanwhile, contains over 646,000 BTC, worth around $41.75 billion as of Nov. 11. The figures add to the debate over gold as a store of value and inflation hedge versus Bitcoin, as inflation cuts through the United States and global economies.
With gold flagging compared to BTC/USD, the allure of giving capital Bitcoin exposure has arguably never made more sense.
A month after the first Bitcoin futures exchange-traded funds (ETF) launched, volumes are “massive,” Bloomberg analyst Eric Balchunas said this week.
The first licensed U.S. Bitcoin futures ETF, the ProShares Bitcoin Strategy ETF, is nearing 50% of the options volume seen in GLD.
Since its launch on Oct. 19 Proshares’ Bitcoin futures exchange-traded fund (ETF) has been a popular choice with traders, rising to the top 2% of all ETFs in terms of total trading volume.
Bloomberg’s Senior ETF analyst Eric Balchunas noted on Nov. 11 that the ProShares Bitcoin Strategy ETF (BITO) had $400 million worth of shares traded yesterday, with its average volume consistently putting it in the top 2% of all ETFs.
BITO has seen roughly $112.79 million combined inflows over the past nine days. While the figure pales in comparison to the first two days of the fund’s listing that saw $567.16 million and $489.51 million worth of inflows each, Baluchunas noted that “this kind of consistent flow-age is highly rare” for a newly launched ETF.
A new study from the United Kingdom revealed that most game studios have already started exploring blockchain technology for their upcoming titles.
Commissioned by blockchain platform Stratis and undertaken by insight agency Opinion, the new research surveyed 197 video game developers in the United States and the United Kingdom. The results showed that 58% of developers are beginning to use blockchain technology, and almost half of the respondents (47%) started incorporating nonfungible tokens (NFT).
The study indicates developers’ confidence in blockchain and NFTs, as two-thirds of studios expect blockchain to become prevalent in the gaming industry within the next two years. While 72% of respondents are considering using blockchain and NFTs in upcoming games, more than half (56%) plan to apply the new tech within 12 months.
Speaking to Cointelegraph, Stratis CEO Chris Trew explained that blockchain techn, tokens and NFTs are vital technologies for new digital worlds and gaming experiences. “They enable players to own a stake in the games they play by, for example, buying land within a metaverse game as an NFT or a car in a racing game,” he said.
“Historically, games have been pay-to-play, and the value accrued only to companies and platforms. Blockchain and NFTs turn this situation on its head,” Trew added.
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