{"id":10733,"date":"2024-02-15T15:57:59","date_gmt":"2024-02-15T13:57:59","guid":{"rendered":"https:\/\/forklog.com\/en\/bitcoin-outshines-gold-expert-notes-capital-shift-to-cryptocurrency-etfs\/"},"modified":"2024-02-15T15:57:59","modified_gmt":"2024-02-15T13:57:59","slug":"bitcoin-outshines-gold-expert-notes-capital-shift-to-cryptocurrency-etfs","status":"publish","type":"post","link":"https:\/\/u1f987.com\/en\/bitcoin-outshines-gold-expert-notes-capital-shift-to-cryptocurrency-etfs\/","title":{"rendered":"Bitcoin Outshines Gold: Expert Notes Capital Shift to Cryptocurrency ETFs"},"content":{"rendered":"<p>Since the start of 2024, gold ETFs have seen an outflow of $2.39 billion, while inflows into funds based on the leading cryptocurrency have reached $3.89 billion. These figures were presented by Bloomberg analyst Eric Balchunas.<\/p>\n<blockquote class=\"twitter-tweet\">\n<p lang=\"en\" dir=\"ltr\">Meanwhile it\u2019s a pretty bad scene right now in the gold ETFs category\u2026 via <a href=\"https:\/\/twitter.com\/SirYappityyapp?ref_src=twsrc%5Etfw\">@SirYappityyapp<\/a> in our just published weekly flow note <a href=\"https:\/\/t.co\/C0T17JZpiA\">pic.twitter.com\/C0T17JZpiA<\/a><\/p>\n<p>\u2014 Eric Balchunas (@EricBalchunas) <a href=\"https:\/\/twitter.com\/EricBalchunas\/status\/1757767035134660987?ref_src=twsrc%5Etfw\">February 14, 2024<\/a><\/p><\/blockquote>\n<p> <script async src=\"https:\/\/platform.twitter.com\/widgets.js\" charset=\"utf-8\"><\/script><\/p>\n<p>The illustration shows that only three out of the 14 most popular precious metal-based products\u2014VanEck Merk Gold Shares, FT Vest Gold Strategy Target Income ETF, and Proshares UltraShort Gold\u2014can boast positive dynamics.<\/p>\n<p>The specialist questioned the capital rotation into the leading cryptocurrency. He attributed the trend to <a href=\"https:\/\/ru.wikipedia.org\/wiki\/%D0%91%D0%BE%D1%8F%D0%B7%D0%BD%D1%8C_%D0%BF%D1%80%D0%BE%D0%BF%D1%83%D1%81%D1%82%D0%B8%D1%82%D1%8C_%D0%B8%D0%BD%D1%82%D0%B5%D1%80%D0%B5%D1%81%D0%BD%D0%BE%D0%B5\">FOMO<\/a> in the stock market in light of recent macroeconomic data.<\/p>\n<blockquote class=\"twitter-tweet\" data-conversation=\"none\">\n<p lang=\"en\" dir=\"ltr\">To be sure I don\u2019t think these are ppl migrating to btc ETFs (maybe a tiny bit) but rather just us equity fomo altho that could reverse given the new eco data<\/p>\n<p>\u2014 Eric Balchunas (@EricBalchunas) <a href=\"https:\/\/twitter.com\/EricBalchunas\/status\/1757767327930614123?ref_src=twsrc%5Etfw\">February 14, 2024<\/a><\/p><\/blockquote>\n<p> <script async src=\"https:\/\/platform.twitter.com\/widgets.js\" charset=\"utf-8\"><\/script><\/p>\n<p>The decline in investor interest can also be attributed to the drop in the asset&#8217;s price (-3.2% since the beginning of the year). Meanwhile, digital gold has appreciated by 23.5% over the same period.<\/p>\n<p>Against this backdrop, Bitcoin ETFs are attracting increased attention. BlackRock&#8217;s IBIT and Fidelity&#8217;s FBTC have entered the top 20 weekly fund inflows across all types of exchange-traded funds.<\/p>\n<p>Bitcoin Munger noted the absence of gold ETFs in the rankings.<\/p>\n<blockquote class=\"twitter-tweet\">\n<p lang=\"en\" dir=\"ltr\">Incredible to see not just one but 2 <a href=\"https:\/\/twitter.com\/hashtag\/bitcoin?src=hash&#038;ref_src=twsrc%5Etfw\">#bitcoin<\/a> ETFs with top flows in the last week.<\/p>\n<p>You know what is not present in the top 20? Gold.<\/p>\n<p>The disruption of gold by Bitcoin is going to come a lot faster than goldbugs think. <a href=\"https:\/\/t.co\/HydWjKLuuT\">pic.twitter.com\/HydWjKLuuT<\/a><\/p>\n<p>\u2014 Bitcoin Munger (@bitcoinmunger) <a href=\"https:\/\/twitter.com\/bitcoinmunger\/status\/1757485920058520052?ref_src=twsrc%5Etfw\">February 13, 2024<\/a><\/p><\/blockquote>\n<p> <script async src=\"https:\/\/platform.twitter.com\/widgets.js\" charset=\"utf-8\"><\/script><\/p>\n<blockquote class=\"wp-block-quote is-layout-flow wp-block-quote-is-layout-flow\">\n<p><em>\u201cThe disruption of the \u2018eternal value\u2019 by Bitcoin will happen much faster than <span data-descr=\"goldbugs - a term often used in the financial sector and among economists to refer to people who are extremely optimistic about commodity gold as an investment or standard for measuring wealth\" class=\"old_tooltip\"><a href=\"https:\/\/en.wikipedia.org\/wiki\/Gold_bug\" title=\"\">goldbugs<\/a><\/span> think,\u201d<\/em> he suggested.<\/p>\n<\/blockquote>\n<p>Co-founder and <span data-descr=\"Chief Technology Officer\" class=\"old_tooltip\">CTO<\/span> of Casa, Jameson Lopp, recalled one of the prominent figures in this category\u2014Peter Schiff. He decided to inquire about his well-being, adding ETF dynamics to the post.<\/p>\n<blockquote class=\"twitter-tweet\">\n<p lang=\"en\" dir=\"ltr\">Can someone do a wellness check on <a href=\"https:\/\/twitter.com\/PeterSchiff?ref_src=twsrc%5Etfw\">@PeterSchiff<\/a>? <a href=\"https:\/\/t.co\/mUc2xGwK2j\">pic.twitter.com\/mUc2xGwK2j<\/a><\/p>\n<p>\u2014 Jameson Lopp (@lopp) <a href=\"https:\/\/twitter.com\/lopp\/status\/1757839965407621414?ref_src=twsrc%5Etfw\">February 14, 2024<\/a><\/p><\/blockquote>\n<p> <script async src=\"https:\/\/platform.twitter.com\/widgets.js\" charset=\"utf-8\"><\/script><\/p>\n<p>According to SoSoValue, on February 14, the cumulative net inflow into funds based on the leading cryptocurrency continued for the 14th consecutive trading day, reaching $4.23 billion.\u00a0<\/p>\n<blockquote class=\"twitter-tweet\">\n<p lang=\"en\" dir=\"ltr\">According to SoSoValue, on February 14th, the total net inflow for Bitcoin spot ETFs was $339 million, marking fourteen consecutive trading days of net inflows. Grayscale ETF GBTC experienced a net outflow of $131 million in a single day, while Invesco&#8217;s Bitcoin ETF BTCO saw a\u2026 <a href=\"https:\/\/t.co\/nu7H2pPKph\">pic.twitter.com\/nu7H2pPKph<\/a><\/p>\n<p>\u2014 Wu Blockchain (@WuBlockchain) <a href=\"https:\/\/twitter.com\/WuBlockchain\/status\/1758071992354484601?ref_src=twsrc%5Etfw\">February 15, 2024<\/a><\/p><\/blockquote>\n<p> <script async src=\"https:\/\/platform.twitter.com\/widgets.js\" charset=\"utf-8\"><\/script><\/p>\n<p>According to Blockworks, Bitwise&#8217;s Chief Investment Officer Matt Hougan predicted a \u201csecondary acceleration\u201d of inflows into spot Bitcoin ETFs in a few months.\u00a0<\/p>\n<figure class=\"wp-block-image size-full\"><img decoding=\"async\" src=\"https:\/\/u1f987.com\/wp-content\/uploads\/1-919.webp\" alt=\"1-919\" class=\"wp-image-226150\"\/><figcaption class=\"wp-element-caption\">Data:<a href=\"https:\/\/sosovalue.xyz\/assets\/etf\" target=\"_blank\" rel=\"noreferrer noopener\">\u00a0sosovalue.xyz<\/a>.<\/figcaption><\/figure>\n<p>The specialist referred to the need for clients of <span data-descr=\"Registered Investment Advisors\" class=\"old_tooltip\">RIA<\/span> to free up some capital to invest in the new asset, which will take some time.<\/p>\n<p>Analysts at JPMorgan have pointed out higher liquidity metrics for ETFs from BlackRock and Fidelity compared to <span data-descr=\"Grayscale Bitcoin Trust ETF\" class=\"old_tooltip\">GBTC<\/span>.<\/p>\n<p>Earlier, ARK Invest assessed the potential rise in the price of the leading cryptocurrency<a href=\"https:\/\/u1f987.com\/en\/news\/ark-invest-analysts-predict-bitcoin-could-reach-2-3-million\"> to $120,000-2,300,000 by 2030<\/a>.<\/p>\n<p>Experts cited drivers such as the <a href=\"https:\/\/u1f987.com\/en\/news\/sec-approves-all-11-spot-bitcoin-etf-applications\">approval of spot Bitcoin ETFs<\/a>, halving, institutional adoption, and further reduction of regulatory uncertainty.<\/p>\n<p>In January, Standard Chartered predicted digital gold<a href=\"https:\/\/u1f987.com\/en\/news\/standard-chartered-predicts-bitcoin-could-reach-200000-following-etf-approval\"> at $200,000<\/a> following ETF approval.<\/p>\n","protected":false},"excerpt":{"rendered":"<p>Since the start of 2024, gold ETFs have seen an outflow of $2.39 billion, while inflows into funds based on the leading cryptocurrency have reached $3.89 billion. These figures were presented by Bloomberg analyst Eric Balchunas. Meanwhile it\u2019s a pretty bad scene right now in the gold ETFs category\u2026 via @SirYappityyapp in our just published [&hellip;]<\/p>\n","protected":false},"author":1,"featured_media":10732,"comment_status":"open","ping_status":"open","sticky":false,"template":"","format":"standard","meta":{"select":"","news_style_id":"","cryptorium_level":"","_short_excerpt_text":"","creation_source":"","_metatest_mainpost_news_update":false,"footnotes":""},"categories":[3],"tags":[18,569,536,1138],"class_list":["post-10733","post","type-post","status-publish","format-standard","has-post-thumbnail","hentry","category-news-and-analysis","tag-bitcoin","tag-etf","tag-gold","tag-opinions"],"aioseo_notices":[],"amp_enabled":true,"views":"21","promo_type":"","layout_type":"","short_excerpt":"","is_update":"","_links":{"self":[{"href":"https:\/\/u1f987.com\/en\/wp-json\/wp\/v2\/posts\/10733","targetHints":{"allow":["GET"]}}],"collection":[{"href":"https:\/\/u1f987.com\/en\/wp-json\/wp\/v2\/posts"}],"about":[{"href":"https:\/\/u1f987.com\/en\/wp-json\/wp\/v2\/types\/post"}],"author":[{"embeddable":true,"href":"https:\/\/u1f987.com\/en\/wp-json\/wp\/v2\/users\/1"}],"replies":[{"embeddable":true,"href":"https:\/\/u1f987.com\/en\/wp-json\/wp\/v2\/comments?post=10733"}],"version-history":[{"count":0,"href":"https:\/\/u1f987.com\/en\/wp-json\/wp\/v2\/posts\/10733\/revisions"}],"wp:featuredmedia":[{"embeddable":true,"href":"https:\/\/u1f987.com\/en\/wp-json\/wp\/v2\/media\/10732"}],"wp:attachment":[{"href":"https:\/\/u1f987.com\/en\/wp-json\/wp\/v2\/media?parent=10733"}],"wp:term":[{"taxonomy":"category","embeddable":true,"href":"https:\/\/u1f987.com\/en\/wp-json\/wp\/v2\/categories?post=10733"},{"taxonomy":"post_tag","embeddable":true,"href":"https:\/\/u1f987.com\/en\/wp-json\/wp\/v2\/tags?post=10733"}],"curies":[{"name":"wp","href":"https:\/\/api.w.org\/{rel}","templated":true}]}}