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Spot Bitcoin ETFs are listed among the largest commodity ETFs based on assets under management.
Several newly introduced spot Bitcoin ETFs now stand alongside the largest commodity ETFs regarding assets under management (AUM).
By merging VettaETF’s compilation of commodity ETFs with its blockchain ETFs, the following outcomes are observed:
| 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 |
This data reveals that Grayscale’s GBTC has $20.5 billion in AUM, positioning it as the third largest commodity ETF following two gold ETFs.
In addition, BlackRock’s IBIT ranks as the seventh largest ETF on the list, with $2.8 billion in AUM. Fidelity’s FBTC holds the ninth position, with $2.5 billion in AUM.
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Two additional spot Bitcoin ETFs are not represented in the chart above but are included among the top 25 commodity ETFs by assets under management. ARK 21Shares’s ARKB fund has $665 million in AUM, ranking at #25. Bitwise’s BITB fund has $641 million in AUM, placing it at #26.
BTC ETFs are generally classified as commodities ETFs
Although VettaETF does not categorize spot Bitcoin ETFs within its commodity ETF list, asset managers typically regard them as such.
For instance, BlackRock designates IBIT as a commodity ETF on its website. Likewise, Ark Invest refers to ARKB as an Indexed Commodity ETF. Grayscale has identified GBTC as the second-largest commodity-based ETF, a claim made prior to its current ranking as the third-largest ETF of this kind.
However, this classification is not universally accepted: Bitwise and Fidelity do not seem to categorize their offerings as commodity ETFs. Additionally, most asset managers acknowledge in a disclaimer that their fund is not registered under the Investment Company Act of 1940 (which partially influences a fund’s participation in commodities trading) and is not a commodity pool under the Commodity Exchange Act.
Spot Bitcoin ETFs received approval from the U.S. Securities and Exchange Commission (SEC) in January. SEC chair Gary Gensler referred to the funds as “ETPs holding [a] non-security commodity, Bitcoin” in his approval statement.
The post Spot Bitcoin ETFs rank among largest commodity ETFs by assets held appeared first on CryptoSlate.
