虛幣市值首破 2 兆美元！全球最大比特幣信託擬轉為 ETF

虛幣市值首破 2 兆美元！全球最大比特幣信託擬轉為 ETF

數位資產管理機構 Grayscale Investments 宣布，計畫將全球最大公開交易的比特幣基金「Grayscale 比特幣信託基金」（Grayscale Bitcoin Trust）轉換成 ETF，一切就等主管機關放行。值得注意的是，整體虛幣市值已首度突破 2 兆美元。

Grayscale 5 日透過官方部落格宣布，100% 承諾將 GBTC 轉換成 ETF。事實上，GBTC 乃世界僅有兩個已向美國證券交易委員會（SEC）完成註冊登記的虛幣基金之一，另一檔是「Grayscale 以太幣信託基金」（Grayscale Ethereum Trust）。

Grayscale 早在 2016 年就交出比特幣 ETF 申請書，2017 年不斷跟 SEC 來回溝通。Grayscale 最終撤銷申請，主因數位資產的監管環境尚未到位，無法讓類似商品成功上市。

Grayscale 承諾會將 GBTC 轉為 ETF，但時間點得看監管環境的進展而定。等到 GBTC 轉換成 ETF 後，擁有公開交易持股的股東不需做出任何調整，但管理費可望因而下降。

GBTC 的資產管理規模（AUM）目前來到 340 億美元，若跟全球原物料 ETF 相比可以排上第二名，僅次於實體黃金儲備量最高的 ETF「SPDR Gold Trust（GLD）」。

Barron’s、CoinDesk 等外電 5 日報導，GBTC 的市場報價已超過 30 天低於淨資產價值（net asset value），為 2013 年 9 月公開上市以來首見。

美國主管機關尚未核准任何比特幣 ETF，對想透過股市增加比特幣曝險度的投資人來說，GBTC 是他們為數不多的選項之一。市場需求高漲、再加上 GBTC 股票供給有限，讓 GBTC 長期處於溢價狀態。近來 GBTC 罕見折價，暗示投資人決定拋出部位，準備迎接比特幣 ETF。比特幣 ETF 的管理費預料會遠低於 Grayscale 收取的2%。

北美第 1 檔比特幣 ETF 已於 2 月 18 日在加拿大掛牌。英國金融時報、ZeroHedge 等外電報導，多倫多證券交易所集團（TMX Group）的資料顯示，加拿大掛牌的比特幣 ETF「Purpose Bitcoin ETF」，首日成交量就接近 1,000 萬股，一舉擠入多倫多證券交易所（TSX）當日前 10 大交易最活絡的 ETF。BTCC 僅上市 2 個月，管理的資產規模就膨脹至 12 億美元。

目前還在向 SEC 申請比特幣 ETF 的業者包括富達投資（Fidelity Investments）、VanEck、WisdomTree Investments（WETF）、SkyBridge Capital、Valkyrie Digital Assets 及 NYDIG Asset Management。

值得注意的是，明星經理人凱薩琳伍德（Cathie Wood）旗下的方舟投資（ARK Investments Management）早就已經持有 GBTC。包括摩根士丹利（Morgan Stanley）在內的大型金融機構，也都透過 GBTC 取得比特幣的間接曝險。若 GBTC 轉換成 ETF 後，費用、服務跟競爭產品差不多，這些機構應會繼續持有。

路透社報導，根據 CoinGecko、Blockfolio 追蹤的資料，虛幣市值已於 4 月 5 日突破 2 兆美元關卡，刷新歷史新高紀錄。比特幣市值已連續一週保持在 1 兆美元以上。分析人士直指，只要比特幣高於 53,000 美元，就可保住 1 兆美元市值。

（本文由 MoneyDJ新聞 授權轉載；首圖來源：Unsplash）

延伸閱讀：

Peter Thiel 認為比特幣可能成為中國的金融武器

眾所皆知，PayPal 共同創辦人也是 Facebook 早期投資人 Peter Thiel 過去一直以來都是相當堅定的虛擬貨幣支持者，但他現在認為虛擬貨幣可能損害美國利益，甚至稱比特幣可能成為中國用來對付美國的金融武器。

他在 Richard Nixon Foundation 所舉辦的虛擬論壇中表示，比特幣確實威脅著法定貨幣，尤其對美元更加嚴重。他解釋過去中國曾希望看到有另一種法幣挑戰美元作為全球儲備貨幣的角色，但這個角色目前不是人民幣，反而過去中國曾試著間接扶持歐元地位做為「部分」對抗美元的武器。

但他認為中國對歐元的扶持不見起色，所以現在中國正試圖提升比特幣的地位威脅美元。從地緣政治的角度來看的話，如果中國突然有意操作比特幣的話，美國就必須提出許多應變措施來面對挑戰。

他同時向美國政府倡議，現在就必須對虛擬貨幣提出更嚴格的控管機制。

不過他也批評，最近中國試著用區塊鏈所打造的數位人民幣「不是真正的虛擬貨幣，只是一種極權主義的控制手段」。

延伸閱讀：

Bloomberg Foresees Bitcoin Rallying to $400K This Year

TipRanks

Markets are back at record highs, resuming a year-to-date climb that was temporarily interrupted from mid-February through the first week of March. A series of interrelated factors have worked together to push stock values back up. First, the economy is reopening. This started last fall, but was slowed by a wave of corona infections during the winter. The rapidly expanding vaccination program has people confident now, and it looks like the US economy is headed for its highest growth rate in several decades. Second, and added to that confidence, consumers are sitting on cash; there are the $1,400 stimulus checks that went out with the COVID-relief bill last month, but also, spending activity in 2020 was so low that household savings are at record high levels. The Biden Administration is also talking about a new infrastructure bill it wants to push through Congress, bringing up the prospect of trillions more in Federal spending. And finally, the Federal Reserve has signaled that it has no intention of pulling back on its long-standing easy-money policies. The result: investors are ready to spend, and stocks are rising. The gains in the stock market are also underpinned by a flood of positive economic data. The key data point, the one that’s been getting the headlines, is the monthly jobs number – and the recently released March figures showed 916,000 new jobs added last month. That was almost half more than had been expected, and came with upward revisions to January and February that totaled 156,000. Those gains have the Street’s analysts looking for stocks that are poised to grow with the broader market. Here are two such stock calls; the analysts see them growing about 80% in the year ahead, and recommend buying in now before the price jumps. Golden Nugget Online Gaming (GNOG) Few industries drip money quite as copiously as online gaming. The internet versions of traditional casino games are highly popular, and a successful online casino is a potential gold mine for investors. Golden Nugget Online Gaming is the largest online casino site operating in New Jersey, and has spread its operations to an additional nine states. The company went public through a SPAC merger back in December, and has been trading on the NASDAQ since then. Being new to the public markets, GNOG hasn’t got a long record of open financial disclosures – but the recent 4Q20 earnings report, the company’s first since completing the SPAC transaction, shows reason for optimism. At the top line, the company had quarterly revenues of $23 million and full year 2020 revenues of $91.1 million; management increased its guidance for FY2021 to the range of $130 million to $145 million, or up 51% at the midpoint from last year’s results. So, Golden Nugget has a clear path forward. That’s a good thing. Yet, the stock is down ~40% since the SPAC merger completed. One analyst, however, thinks this lower stock price could offer new investors an opportunity to get into GNOG on the cheap. Jefferies analyst David Katz initiated coverage of GNOG with a Buy rating, and his $28 price target implies a robust 85% upside for the next 12 months. (To watch Katz’s track record, click here) “The magnitude and productivity prospects of the iGaming market have not been fully appreciated by the Street, in our view, and GNOG’s positioning and product strength have been proven in NJ. GNOG and digital gaming – iGaming, specifically – require long-term vision in general…. The focus on iGaming as a priority is positioned for the next growth chapter of digital gaming. We expect that as seasoned management continues to execute over time as it has in 2020, the Street’s recognition of the merits of pure-play iGaming will become more evident,” Katz explained. Golden Nugget has slipped under most analysts’ radar; the stock’s Moderate Buy consensus is based on just two recent ratings. With shares trading at $15.10, the $26 average price target suggests room for a 72% upside. (See GNOG stock analysis on TipRanks) Prometheus Biosciences (RXDX) The next stock we’re looking at is Prometheus Biosciences, an early-stage clinical research company focused on using precision medicines to target GI and immune-mediated conditions. Specifically, Prometheus is working on new treatments for Crohn’s Disease and Colitis (also called Inflammatory Bowel Disease, or IBD). The company’s pipeline includes three drug candidates, one of which, PRA023, is in Phase 1 trial, while the other are in preclinical phases. The clinical trial on PRA023 started in December of last year, after receiving the IND acceptance notice from the FDA. Early in March, the company announced that it had commenced dosing patients in the multiple ascending dose (MAD) portion of the Phase 1a clinical study. The current study is ongoing to ‘determine the safety, tolerability, pharmacokinetics, and pharmacodynamics of PRA023 in normal healthy volunteers.’ The other big news for Prometheus in March was the company’s IPO. RXDX entered the public markets on March 12, trading on the NASDAQ. The IPO put 11.5 million shares of common stock on the market, and closed its first day trading at $25.29. This was well above the $19 initial price. The gross proceeds from the offering exceeded $218 million. Prometheus’ approach – using a precision medicine in a select group of patients – has impressed Leerink’s Thomas Smith. The analyst initiated coverage of RXDX with an Outperform rating and $34 price target. This figure indicates room for ~80% upside over the course of the next year. (To watch Smith’s track record, click here) “A precision medicine strategy has the opportunity to demonstrate superior results in a prescreened population that could translate to accelerated development timelines and increased use with identified patients. Other fields of medicine, most notably oncology, have adopted precision medicine as the central strategy for new drug development. With no precision medicines currently available for IBD, we see considerable excitement for new therapeutics that are rationally designed based on genetic profiling, and we view RXDX as uniquely positioned to drive this strategy,” Smith opined. All in all, there are two reviews on file for Prometheus and both are to Buy, making the consensus view a unanimous Moderate Buy. Shares in RXDX are currently priced at $18.70, while the $32.25 average target suggests 71% growth from that level on the one-year time horizon. (See RXDX stock analysis on TipRanks) To find good ideas for stocks trading at attractive valuations, visit TipRanks’ Best Stocks to Buy, a newly launched tool that unites all of TipRanks’ equity insights. Disclaimer: The opinions expressed in this article are solely those of the featured analysts. The content is intended to be used for informational purposes only. It is very important to do your own analysis before making any investment.