Gold ETFs Outflows About $3 Billion Year-To-Date, Some Money May Have Entered Bitcoin Markets

According to Bloomberg data disclosed by Bitcoin Munger, there has been an outflow of about $3 billion from various gold ETFs since the beginning of 2024, while the spot gold price has fallen by 3 per cent over the year. On the other hand, bitcoin ETFs have seen inflows of $4.1 billion, and spot bitcoin has increased by 16 per cent over the course of the year, with some of the outflows from gold so far or into the bitcoin market. However, analyses suggest that although bitcoin recently passed the $1 trillion mark, this trend still does not establish a fundamental shift in investor appetite relative to the $13 trillion gold market.