Gold ETFs have seen outflows of approximately US$3 billion year to date, and some of the funds may have entered the Bitcoin market
According to Bitcoin Munger, Bloomberg data shows that various gold ETFs have flowed out of about 3 billion US dollars since early 2024, while the spot gold price has fallen by 3% this year. On the other hand, Bitcoin ETFs have received 4.1 billion US dollars in inflows, and the spot Bitcoin has increased by 16% this year, some of which have flowed out of gold and entered the Bitcoin market. However, analysis points out that although Bitcoin has recently surpassed the $1 trillion mark, this trend still cannot determine a fundamental shift in investor preferences compared to the $13 trillion gold market.
Disclaimer: The content of this article solely reflects the author's opinion and does not represent the platform in any capacity. This article is not intended to serve as a reference for making investment decisions.
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