BlackRock Bitcoin Spot ETF's Inflows Surpass the World's Largest Gold Fund This Year

Odaily Planet Daily News: Although Bitcoin's 3.8% year-to-date increase is far inferior to gold's 29% surge, BlackRock's Spot Bitcoin ETF (IBIT) still ranks sixth in the U.S. ETF fund list with a net inflow of US$6.96 billion, surpassing the world's largest gold ETF (GLD) of US$6.5 billion. This phenomenon shows that institutional investors continue to be optimistic about the long-term value of cryptocurrencies. Gold has benefited from geopolitical tensions and inflation concerns and stood at US$3,384 per ounce, while Bitcoin has fallen more than 10% from its all-time high in January. Analysts pointed out that the continued attraction of gold during the period of price weakness confirms the asset allocation value of Bitcoin as "digital gold". It is expected that the scale of BTC ETF will be three times that of gold ETF in 3-5 years. (CoinDesk)