Suche
Mein Konto
Bitcoin overtakes gold: billions flow into digital assets!
Investors are withdrawing billions from gold ETFs and investing more in Bitcoin, which is seen as a new store of value.
Bitcoin overtakes gold: billions flow into digital assets!
In recent weeks, investors have undergone a significant trend change: billions of dollars are flowing from gold funds into Bitcoin ETFs. Loud The shareholder Bitcoin ETFs, particularly BlackRock's iShares Bitcoin Trust (IBIT), have seen inflows of over $9 billion in the past five weeks. In contrast, gold-backed funds saw outflows of more than $2.8 billion.
This shift is accompanied by a growing perception that Bitcoin is acting as a serious alternative to gold. This view is reinforced not least by concerns about the stability of US government finances. Bitcoin recently hit an all-time high of $111,980, sparking additional investor interest.
Institutional acceptance and market strategies
Christopher Wood, equity strategist at Jefferies, sees both gold and Bitcoin as hedges against currency devaluation, particularly in the G7 region. While gold is often valued during times of geopolitical tension, Bitcoin benefits from a general distrust of the traditional financial system. Geoff Kendrick, digital asset expert at Standard Chartered, highlights Bitcoin's decentralized structure as a safeguard against the risks in the financial system.
An example of such risks are the problems such as the bankruptcy of the Silicon Valley Bank in 2023 and possible political interventions that could shake confidence in the financial markets. In response to these developments, Cantor Fitzgerald Asset Management plans to launch a new fund, the “Gold Protected Bitcoin Fund”. This fund will combine Bitcoin exposure with a gold-based risk buffer, providing 1:1 downside protection based on gold prices.
Market developments and investor behavior
In contrast to the inflows into Bitcoin ETFs, the outflows from gold ETFs show a worrying statistic. Meticulous analysis suggests that outflows from gold exchange-traded funds have already exceeded $2 billion in 2024. The BlackRock Gold ETF was particularly affected, recording the second-highest losses at USD 423.6 million. Outflows from SPDR Gold Shares (GLD) and BlackRock iShares Gold Trust will total over $2.4 billion in 2024, as BeInCrypto reported.
In addition to these developments, Bitcoin ETFs have seen a total of $11.6 billion in inflows since their approval on January 11th. Notably, on February 14th, $5 billion was recorded in Bitcoin Spot ETFs. Such figures highlight the growing trend towards digital currencies as a store of value, which is increasingly favored by many investors.
Despite Bitcoin's appeal for short-term investments, gold remains an essential tool for long-term investment strategies. Analysts point out that many traditional investors invest in gold to seek protection from volatility, which is often one reason gold is considered a safe haven. US Securities and Exchange Commission Commissioner Caroline A. Crenshaw expressed concerns about Bitcoin's link to the traditional financial system and opposed the approval of Bitcoin ETFs.