The investment landscape is witnessing a seismic shift as Exchange-Traded Funds (ETFs) focused on Bitcoin garner unprecedented inflows, starkly contrasting with the significant outflows from gold ETFs. This trend underscores a growing investor appetite for digital assets over traditional safe havens, marking a pivotal moment in asset allocation strategies.

Gold Out, Bitcoin In

Data from Farside reveals that since the approval of the 10 spot Bitcoin ETFs on January 11, there has been an aggregate inflow of $4.115 billion, accompanied by record trading volumes. Just yesterday, all ETFs saw net inflows of over 12,000, BlackRock alone saw a 10,000 BTC inflow. Notably, all spot Bitcoin ETFs saw three consecutive days over 10,000 BTC net inflows.

In sharp contrast, the 14 leading gold ETFs have experienced outflows totaling $2.4 billion in 2024, with Bloomberg intelligence analyst Eric Balchunas pointing out that the most substantial outflows were from BlackRock’s iShares Gold Trust Micro and iShares Gold Trust, amounting to $230.4 million and $423.6 million, respectively.

James Butterfill, Head of Research at CoinShares, provided insight into the shifting dynamics, stating, “Gold ETP flows haven’t been faring well despite positive price action. Data does suggest some of those outflows are finding their way into Bitcoin ETPs.” This observation indicates a direct correlation between the decline in gold investments and the rise in BTC’s attractiveness among ETF investors.

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Author: Jake Simmons

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