Bloomberg Analyst: Bitcoin ETF assets may exceed gold ETF assets within two years

In just six weeks since its launch, the Bitcoin spot ETF has attracted more than $8 billion in net inflows, surpassing the gold ETF. Bloomberg ETF analysts predict that the asset size of Bitcoin ETFs may exceed that of gold ETFs within two years.

Bitcoin ETF asset size overtook gold in two years

According to the latest article by Bloomberg ETF analyst Eric Balchunas, although the Bitcoin spot ETF has been on the market for less than six weeks, capital inflows have exceeded Gold ETF $8 billion. In addition, the asset size of Bitcoin ETF has reached 40% of gold ETF, and may surpass gold in the next two years.

The relevant data mentioned in the article are as follows:

• The net inflow of Bitcoin ETF reached US$5 billion.

• If GBTC is excluded, the net inflow reaches US$12 billion.

• Gold ETFs had a net outflow of US$3.6 billion.

• The size of the U.S. gold spot ETF is approximately US$90 billion; the size of the Bitcoin spot ETF is approximately US$36.4 billion.

Gold investors turning to Bitcoin?

Previous reports on the outflow of gold ETFs do not actually represent the shift of gold investors to Bitcoin. Many US ETFs have also experienced large net inflows.

Eric Balchunas also admitted this, but he pointed out: Although the outflow of gold ETF may rarely flow into Bitcoin ETF, the existence of Bitcoin ETF and the enthusiasm surrounding these new funds (the most successful issuance in history 1), has brought competition to gold ETFs.

The price of gold has also fallen 2% so far this year. He believes that gold ETFs may face challenges in maintaining an asset scale of US$90 billion.

BlackRock is reaping the benefits?

Eric Balchunas also mentioned that BlackRock actually also has a gold ETF "iShares Gold Trust (IAU)", and it is one of the huge sources of income (also 0.25%). The good news is that BlackRock also has Significant success on Bitcoin ETF.

He believes that although BlackRock may be affected by the outflow of gold ETF, over time, BlackRock will eventually win a big victory on the Bitcoin ETF.

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