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Post: Gold ETFs Facing Outflows, While Bitcoin ETFs See Inflows

Gold ETFs Facing Outflows, While Bitcoin ETFs See Inflows

Key Points:

  • Leading gold ETFs have experienced outflows of $2.39 billion in 2021.
  • This is in contrast to ETFs tracking the spot price of Bitcoin, which have seen inflows.
  • Analysts predicted that gold would outperform Bitcoin in 2024, but this may not be the case currently.

Gold ETFs Facing Outflows, While Bitcoin ETFs See Inflows

Gold-tracking exchange-traded funds (ETFs) are facing significant outflows this year, with $2.39 billion pulled out of the leading 14 gold ETFs. This stands in contrast to ETFs tracking the spot price of Bitcoin, which have seen inflows. The decline in the price of spot gold may be one of the reasons for this trend.

Gold May Not Outperform Bitcoin as Previously Predicted

Earlier predictions by Bloomberg senior commodity strategist Mike McGlone suggested that gold would surpass Bitcoin in performance by 2024. However, with the current outflows from gold ETFs and the popularity of Bitcoin ETFs, this prediction seems to be off the mark for the moment. The market dynamics between gold and Bitcoin may be shifting, with investors showing increased interest in cryptocurrencies.

Hot Take:

The recent outflows from gold ETFs and the inflows into Bitcoin ETFs indicate a changing sentiment among investors. While gold has historically been seen as a safe haven asset, the rise of cryptocurrencies and the potential for higher returns are attracting investor attention. This shift in investor preferences could have long-term implications for the value and perception of both gold and Bitcoin.

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