Gold exchange-traded funds (ETFs) have overtaken bitcoin ETFs in assets under management as investors shift toward the traditional safe-haven asset as BTC price tumbled more than 19% over the past three months, while the precious metal climbed 12.5%.
Bitcoin ETFs, which saw significant inflows following their U.S. launch in January last year, have experienced major outflows, losing about $3.8 billion since Feb. 24 of this year, according to Farside Investors data. Meanwhile, gold ETFs recorded their highest monthly inflows since March 2022 last month, according to the World Gold Council.
These flows have meant that gold ETFs have now “reclaimed the asset crown over bitcoin ETFs,” as Bloomberg Senior ETF analyst Eric Balchunas said on social media.
Spot bitcoin ETFs listed in the U.S. first surpassed gold ETFs in assets under management in December 2024 as the cryptocurrency market surged after Donald Trump’s victory in the U.S. presidential elections.
Meanwhile, gold has been seeing a significant run. This Friday, it exceeded the $3,000 per ounce mark for the first time ever, with gold futures for April delivery breaking through the same level earlier in the week.
Market volatility and geopolitical uncertainty have been helping the price of the precious metal rise as demand for a safe haven continues to grow.
Read more: Gold’s Historic Rally Leaves Bitcoin Behind, But the Trend May Reverse
Read MoreCoinDesk: Bitcoin, Ethereum, Crypto News and Price Data[#item_full_content]
Since Bitcoin’s launch, the number of addresses holding more than 0.1 BTC has climbed steadily…
Bitcoin Magazine 22-Year-Old Pleads Guilty in $263 Million Bitcoin and Crypto Theft A 22-year-old California…
The fund would hold bitcoin only overnight, betting on data showing bitcon gains mostly occur…
Bitcoin Magazine Bitcoin Bulls Trim Near-Term Price Targets as BTC Demand Slows Wall Street’s biggest…
Bitcoin’s on-exchange supply has dropped sharply, and traders are taking note. According to Santiment, more…
Bitcoin Magazine El Salvador’s AuthenticDoc Goes Live: Bitcoin-Powered Signatures Eye $60B DocuSign AuthenticDoc, a decentralized…