New Bitcoin ETFs did in 3 days what Gold took 36 days to achieve with $1.8 billion in assets
Bitcoin ETFs are showing that digital gold can acquire new funds much faster than physical gold at current inflow rate.
one ofthe most common comparisons weâve seen concerning the launch of spot Bitcoin ETFs in the United States is the one with the launch of the first gold ETF (GLD) in 2004. Interestingly, comparing the two asset classesâ premieres through their daily attestations reveals some illuminating data.
For clarity and transparency, all data below excludes the Grayscale and ProShares BITO ETFs. Adding Grayscale skews the data due to the enormous volume and substantial value of assets under management due to its conversion from a trust. BITO is removed due to it not being a spot ETF. The BTC Value was calculated using the BRR New York Variant reference rate for each day, as per the ETF prospectuses.
From the table below, we can see that Bitcoin was able to completely obliterate goldâs historic launch volume. On its first day, GLD saw around $265 million in volume, whereas Bitcoin saw almost ten times that, at $2.3 billion. Moreover, while GLD saw a total of $1.32 billion traded, Bitcoin ETFs have seen $3.69 billion in volume
