Bitcoin ETFs are rapidly outperforming gold, a traditional investor favorite, with cumulative net flows to all ten Bitcoin ETFs, including GBTC. duplication in the last three days to more than 3 billion dollars.
Bitcoin ETFs are rapidly outperforming gold, a traditional investor favorite, with cumulative net flows to all ten Bitcoin ETFs, including GBTC. duplication in the last three days to more than 3 billion dollars.
This acceleration is significant compared to the nearly two years it took the gold ETF to reach this milestone.
The data, shared by Bloomberg’s Eric Balchunas, shows growing interest in cryptocurrency investment vehicles.
The nine Bitcoin ETFs alone are approaching a staggering $10 billion in flows, indicating a seismic shift in investment preferences toward digital currencies over traditional precious metals.
Rising popularity of Bitcoin ETFs
The rise in Bitcoin ETF investments is not only a testament to the growing acceptance of cryptocurrencies as a legitimate asset class, but also reflects the innovative appeal of Bitcoin ETFs to retail and institutional investors.
IBIT, for example, now ranks fourth in overall flows so far this year among 3,400 ETFs, rubbing shoulders with heavyweights such as VOO, IVV and QQQ.
FBTC also makes a notable entry at seventh place. These rankings, notable for their indication of investor enthusiasm, suggest a growing base of support for cryptocurrency investments, even considering some help from the entry of GBTC, which, as Balchunas points out, constituted only a fraction of its entrance.
Gold loses its shine
On the other hand, gold prices have seen a slowdown, following a better-than-expected US inflation report.
The data, which could influence the Federal Reserve’s interest rate decisions, has turned investors away from gold, traditionally seen as a safe-haven asset during economic uncertainty.
In early US trading, gold and silver prices fell near their daily lows, with April gold down $4.50 to $2,028.70 and March silver down $0.147 to $22.61 Dollars.
