🔥Are Bitcoin ETFs the new choice: $2.4 billion outflow from gold funds
While the acceptance of Bitcoin spot ETFs in the USA has caused billions of dollars to shift to this area, billions of dollars of outflows in gold ETFs do not go unnoticed despite the inflationary environment. Analysts state that in the long run, Bitcoin may steal the title of "the world's primary store of value" from gold.
While Bitcoin ETFs continue to attract non-stop attention from all over the world, ETC Group, a British investment fund and product issuer, stated that Bitcoin could steal gold's role as a "store of value" in the long run.
👉“The role of US ETFs is huge…”
Andre Dragosch, research manager of the London-based company, which has been providing ETP and ETF services to corporate companies since 2003, stated that there is a clear conflict between gold and Bitcoin ETFs:
“These figures may be early signals that Bitcoin could steal its status as a store of value from gold. Most of the recent investments in Bitcoin ETFs come from American ETFs. “These ETFs have a huge role in Bitcoin's upward movement.”
👉There is a way out
While the Bitcoin ETFs, which are in the top 10 in terms of size, have received a net investment of $3.9 billion since the beginning of the year, the outflows below are noteworthy. According to the research of Ryze Labs, known for investing in early crypto projects, a net amount of $ 2.4 billion has come out of the 14 largest gold ETFs since the beginning of the year.
Andre Dragosch also added that if prices increase like this, Bitcoin ETFs could surpass gold ETFs within 2 years.
