Bitcoin, Gold ETFs Demand Diverges With Prices at Record Highs
- Cryptocurrency, precious metal are seen as stores of value
- Spot Bitcoin ETFs have gained net flows since January launch
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Exchange-traded fund investors appear to be more confident in “digital gold,” as Bitcoin is often referred to by advocates, than the actual precious metal as each one sets record high prices.
While both have been touted as stores of value and hedges against inflation, gold ETFs have seen about $4.6 billion of outflows this year, according to data compiled by Bloomberg Intelligence. The 10 US Bitcoin ETFs that began trading in January have had net inflows of around $8 billion, in the most successful launch ever of the investment products.