Bitcoin

Gold

<p>A new wave of enthusiasm has hit Bitcoin exchange-traded funds (ETFs), luring investors to shift their gaze and funds from traditional gold-backed ETFs. Despite the skepticism from some quarters of the financial analysis space, the allure of Bitcoin ETFs as a hedge against inflation is undeniable. With the U.S. regulators giving the thumbs up to these cryptoassetf trackers in January, the multi-trillion dollar ETF market is braced for an upheaval.<a href="https://www.reuters.com/technology/bitcoin-etfs-test-investor-commitment-gold-backed-paper-2024-02-22/" rel="nofollow noopener" target="_blank"> </a></p> 
<h2 class="wp-block-heading" id="the-bitcoin-etf-boom">The Bitcoin ETF Boom</h2> 
<p>Let’s get one thing straight. Bitcoin ETFs are on a tear, people! Following the regulatory nod in January, the iShares Bitcoin Trust and Fidelity Wise Origin Bitcoin Fund have been raking in the dough, amassing $5.45 billion and $4.13 billion, respectively. On the flip side, the gold behemoths, the SPDR Gold Trust and iShares Gold Trust, are feeling the pinch, bleeding out millions in assets. It’s clear as day; the investment tides are turning.</p> 
<p>What’s the big deal, you ask? Bitcoin’s meteoric rise by over 150% in 2023, dwarfing gold’s modest 13% climb, has investors excited</p> 
<p>. The cryptocurrency industry is maturing, and with every regulatory nod, it edges closer to becoming a mainstream investment haven, potentially giving the old guard, gold, a run for its money. Yet, caution remains the word on the street. Bitcoin’s wild swings have some pundits advising a stay in the gold lane, a tried and tested refuge during economic squalls.</p> 
<h2 class="wp-block-heading" id="a-tug-of-war-bitcoin-vs-gold">A Tug of War: Bitcoin vs. Gold</h2> 
<p>Diving deeper into the fray, the trading volumes for these shiny new Bitcoin ETFs have exploded, crossing the $50 billion mark. The leaders of the pack, BlackRock’s IBIT, <a href="https://www.cryptopolitan.com/gemini-monetize-gbtc-shares-for-earn-users/" data-type="post" data-id="468130">Grayscale’s GBTC</a>, and Fidelity’s FBTC, are commanding the field with their hefty trading volumes. However, Grayscale’s GBTC has seen its market share shrink, a testament to the cutthroat competition in the Bitcoin ETF market.</p> 
<p>Thursday brought a fresh twist to the tale, with the Bitcoin ETFs swinging back to net inflows after a brief setback. The scoreboard? Fidelity’s FBTC leading the charge with significant inflows, followed closely by BlackRock’s IBIT. Meanwhile, Grayscale’s GBTC faced outflows, underscoring the shifting sands of investor preference.</p> 
<p>In the grand scheme of things, the collective assets under management (AUM) of the newborn Bitcoin ETFs are closing in on 300,000 BTC, signaling a strong appetite for cryptocurrency investments. This growth spurt in AUM starkly contrasts with the decline in assets held by Grayscale’s GBTC, painting a vivid picture of the investment landscape. Meanwhile, Bitcoin’s price action has seen a notable uptick this month and year-to-date, even surpassing $53,000 at one points. At press time, however, it was barely holding onto$51,300.</p>

Spot Bitcoin ETFs are reshaping gold-backed investments

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