Bitcoin ETFs attracting more investment than Gold ETFs, BTC to surpass Gold market cap?

Date:

The introduction of new Spot Bitcoin ETFs has led to a significant shift in investor behavior away from traditional gold ETFs. Both SPDR Gold Shares (GLD) and iShares Gold Trust (IAU), the top two gold ETFs by assets under management, have experienced notable net outflows since the launch of the Bitcoin ETFs in January. The outflows from gold ETFs have intensified, with billions flowing into Bitcoin ETFs within a month after their debut.

Despite the massive inflows into Bitcoin ETFs, the funds withdrawn from gold ETFs do not necessarily indicate a direct migration of funds from gold to Bitcoin. Investors withdrew billions from GLD and IAU within a short period, contrasting with the previous year when both funds experienced solid inflows. Out of the 14 gold ETFs analyzed, 11 have observed net outflows since the beginning of the year, leading to total outflows of $3.6 billion in gold ETFs year-to-date.

Crypto analysts are optimistic about Bitcoin’s future performance, with expectations that it may eclipse the market cap of gold as adoption grows. Fidelity’s Director of Global Macro, Jurrien Timmer, projects a significant expansion in Bitcoin’s market cap to reach $6 trillion, mirroring a quarter of the value of the “monetary gold” market. Renowned Bitcoin analyst PlanB also forecasts a substantial surge in Bitcoin’s value over the coming years, drawing comparisons with the value of gold and envisioning Bitcoin reaching a market cap of $12 trillion by 2025.

Source link

Share post:

Subscribe

spot_imgspot_img

Popular

More like this
Related

Powerball addresses $1.3 billion jackpot delay, no longer revealing state information in 13 words.

The highly anticipated Powerball drawing on April 6 with...

Maine officer charged with lying about taking missing person to hospital sparks search effort.

A Maine police officer in Washburn is facing multiple...

Local bank branches are also aiming big with AI technology, not just Wall Street.

The banking industry is undergoing a transformative shift as...

New technology keeping you awake at night? Say goodbye to sleepless nights.

The evolution of nighttime darkness as a signal for...