Gold ETFs have seen outflows of approximately US$3 billion year to date, and some of the funds may have entered the Bitcoin market

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Cointime2024/02/19 11:54

By:Cointime

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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