Gold

Spot

Bloomberg ETF analyst Eric Balchunas recently brought up the changing dynamics in the store of value landscape by comparing Bitcoin (BTC) Spot ETFs to gold ETFs.
The initial success of spot Bitcoin ETFs was amplified by declines in both price and interest in gold ETFs, setting off a fierce battle for the assets, according to the analyst. Although they are only six weeks old, Bitcoin ETFs have already accumulated over $8 billion more in assets than their gold counterparts and already have 40% as much assets as gold ETFs.
Balchunas predicts that Bitcoin ETFs could surpass gold ETFs in assets under management (AUM) in less than two years.
Bitcoin ETFs have attracted nearly $5 billion in net new assets since their launch in early January, or $12 billion when excluding outflows from GBTC. This is in stark contrast to gold ETFs, which saw outflows of $3.6 billion.
Related News: <a href="https://en.bitcoinsistemi.com/unexpected-altcoin-joins-the-european-digital-euro-foundation/" target="_blank" rel="noopener noreferrer nofollow">Unexpected Altcoin Joins the European Digital Euro Foundation</a>
While it is unlikely that much of the money coming out of gold ETFs will flow into Bitcoin ETFs, the existence of the new funds and the excitement around them has undoubtedly increased competition for gold, according to the analyst.
Gold ETFs, which currently hold $90 billion in assets, may struggle to maintain their positions in part due to performance issues, according to Balchunas.
*This is not investment advice.
 Continue Reading: <a href="https://en.bitcoinsistemi.com/bloomberg-analyst-compares-bitcoin-spot-etf-to-gold-etfs-will-btc-take-the-throne/" rel="noopener noreferrer nofollow">Bloomberg Analyst Compares Bitcoin Spot ETF to Gold ETFs: Will BTC Take The Throne?</a>

Bloomberg Analyst Compares Bitcoin Spot ETF to Gold ETFs: Will BTC Take The Throne?

Bitcoin Sistemi EN

Other articles published on Feb 26, 2024

Ethereum Whales Buy 12,000 ETH From Kraken Ahead of Dencun

UNI gains 70% in 24 hours, as other decentralized coins set mimic like DeeStream (DST) pre BTC ha...

BTC and ETH Price Prediction for February 26

Why is Ordiswap Token (ORDS) Surging? Expert Eyes This Next Price Level

Bitcoin Price Prediction: BTC Surges 23% In A Month, But Analysts Say This Bitcoin Cloud Mining T...

New Strategic Partnership Sets Stage for Next-Gen Metaverse Gaming

Join our free newsletter for daily crypto updates!