The first ETF approved to track gold, the SPDR Gold Trust, has roughly four times as many assets as the second, Balchunas said.
A competing offering proposed by SolidX would attempt to alleviate regulators’ security concerns on bitcoin-backed products by offering insurance against theft of the underlying asset.
Greyscale Investments, which elected to forgo the SEC process in issuing the Bitcoin Investment Trust (GBTC) as an over-the-counter product, has seen its open-ended grantor trust trade at a hefty premium to the spot price of the underlying asset, reducing its potential appeal.
This article was provided by Bloomberg News.