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，該公司 100% 承諾將 GBTC 轉換成 ETF。事實上，GBTC 乃世界上僅有的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 最終撤銷了申請，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 以及 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。其中，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）

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By Emily Paxhia, co-founder and managing partner of Poseidon. Mexico has long been a beloved tourist destination; pre-Covid, it was the 7th most visited country with 49 million travelers stopping by annually. Now with the impending legalization of cannabis, Mexico is poised to pique the interest of even more travelers. Mexico is the third country to nationally legalize recreational cannabis, and of those three, it’s the one with by far the most tourists coming across its borders. For some visitors, Mexico has been reduced to a place for cheap tequila shots and sombreros, but for many, it is a cultural hub with art, fashion, beautiful architecture, and incredible dining. Further, Mexico has historically been popular with those who want to experience ancestral plant-based therapies to restore their bodies and minds. In the 1950s, Mexico began to see an influx of tourists coming to sample magic mushrooms in rituals intended to bring participants closer to nature, God or their own psyches. Much of that tourism centered on a small town in Oaxaca, where a healer and former farmer named Maria Sabina administered doses to the likes of Timothy Leary, John Lennon and Bob Dylan. But the surge of interest over the past several years in adaptogenic mushrooms, like shiitake, chaga, and reishi, purported to help the body adapt to environmental and psychological stressors, strengthen the immune system, support sleep, and reduce inflammation. Now seen in everything from skincare to smoothie powder, these mushrooms pair well with cannabis and offer a chance to reap the benefits of these natural remedies without the psychedelic side effects. Mexico’s also seen its share of wellness travelers focused on physical, rather than spiritual fitness. Before Tulum was known for celebrity DJ sets and four-star hotels, it was a mellow haven for yoga fanatics who began flocking to the quiet town in the 1990s to downward-dog along the shore. As word of its charms spread, Tulum underwent a transformation along with a population boom; the town had 2,000 residents in 1990 and has approximately 40,000 today. It’s not a stretch to say that well-executed cannabis-centric spas and yoga resorts could have the same effect on countless other spots around the country. The legalization of Mexico presents an intriguing proposition for foreign investors along with plenty of challenges. The country relies heavily on its partnership with the United States and is therefore vulnerable to any changes to the free trade agreement. Additionally, some business sectors in Mexico are reserved for the country’s citizens, and the economy is especially vulnerable to fluctuations in oil prices. Infrastructure, particularly when it comes to transport, can be considerably lacking. Still, the potential for a profitable cannabis business is high. In an ideal situation, foreign investors would partner with local savvy teams who understand how to navigate government regulations and capitalize on their established networks. For example, a business like Landsteiner Scientific, a nearly 25-year-old pharmaceutical lab, has the ability to manufacture and distribute health products and a strong existing cannabis research arm. Less ideal is the concept of foreign investors setting up on-the-ground operations with little knowledge of the existing market and insisting the country play by their rules. For new cannabis ventures to truly thrive in Mexico, domestic and foreign investors would do well to partner up and play up each other’s strengths. Since Mexico is much more than its admittedly stunning beaches, we’ll also see legalization alter the landscape of its biggest urban areas, some of which embody a European feel. With 21 million residents, Mexico City has a complex cultural history and more museums (art, architectural, anthropological, and historical) than any other city in the world, as well as thriving culinary and fashion scenes. The streets are reminiscent of Milan with its 19th-century buildings inspired by the French, Spanish, and Italian architecture and impeccably dressed women and men in suits. The possibilities are endless. Will there be cannabis-focused tours of Mexico City’s gorgeous Xochimilco Canals? High-end boutiques in the city’s Colonia Roma neighborhood selling handcrafted pipes? Hotel spas offering CBD lotions and THC tinctures in the minibars? Legalization offers the possibility of creating rustic cannabis experiences that dovetail with Mexico’s deep historical traditions, like Temazcal Rituals or cacao ceremonies. It’s a wise move from a tourism perspective, especially since increasingly discerning wellness travelers crave hyperlocal and authentic experiences they won’t find anywhere else. There are enormous financial gains on the horizon for Mexico- Headset projects that the country’s legal sales market could be worth $840 million in its first year. In fact, the TAM (Total Addressable Market) is now four times the size of Canada’s and three times that of the U.S. It all means we’re likely to see tremendous changes in Mexico’s approach to tourism overall and attract the wellness-focused travelers who set trends and create organic buzz. Benzinga’s Related Links: Mexico: Cannabis Regulation Delayed In The Senate | Benzinga How Mexico’s Legal Cannabis Market Impacts Domestic And International Markets Cannabis And The Mexico Opportunity | Benzinga Emily Paxhia is a co-founder and Managing Partner of Poseidon. Emily has reviewed thousands of companies in the cannabis industry and has worked with countless founders in many capacities. She had helped to shape founders' pitch preparations, their go-to-market strategies/ product launches, and advised on day-to-day business operations. Emily has held board seats for multiple portfolio companies and participates as an adviser to multiple teams. Extremely active in the investment decision-making and ongoing investment oversight processes, she works closely with her partners to create meaningful deal structures, ensuring that proper governance is carried out at the company level. Further, Emily has dedicated time and energy to supporting policy groups and has served on the Board of Directors of the Marijuana Policy Project. She also currently serves on the Board of Athletes for CARE and The Initiative. Emily has over 10 years of experience working as a consultant and researcher, and as such, has become an expert at extracting actionable insights from research and applying them to make corporations function more efficiently and successfully. She also leverages this experience to engage in detailed market analysis for determination around product-market fit and potential scalability. Emily graduated from New York University with an M.A. in Psychology in 2008. She graduated from Skidmore College with a B.A. in Psychology in 2002. Photo by Roberto Carlos Roman on Unsplash See more from BenzingaClick here for options trades from BenzingaAdapting To Survive In The Cannabis Sector3 Long-Term Cannabis Stocks To Buy In A Market Crash© 2021 Benzinga.com. Benzinga does not provide investment advice. All rights reserved.

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