The rapid growth of crypto funds ETFs investing in bitcoin suggests increased investor interest in this instrument.
Bloomberg analysts do not rule out that within the next two years, bitcoin ETFs will overtake gold ETFs in terms of the scale of accumulated capital.
Over the past six weeks, the net inflow of funds into ETFs on BTC exceeded $5 billion. This instrument appeared on the U.S. stock market in early January. In less than two years, such crypto funds can collect more investments than invested through funds in the precious metal.
BitMEX Research analysts noted that as of February 25, bitcoin ETFs held more than $37.3 billion. For comparison, crypto ETFs investing in gold have accumulated approximately $88 billion.
Most of the money is in the SPDR Gold Shares (GLD) fund. Since Jan. 11, $3.6 billion has come out of such products. However, Bloomberg strategist Eric Balchunas doubts that all of those funds have gone into bitcoin ETFs.
Compared to BTC, the precious metal was less successful in February. While the cryptocurrency’s value increased by 28% this month, gold has remained just above $2000 per troy ounce since the end of January.