Bitcoin ETFs Pull In $9 Billion as Investors Ditch Gold Holdings
A divergence is emerging in US exchange-traded funds as investors move from gold to its so-called digital counterpart, Bitcoin.
Over the past five weeks, US Bitcoin ETFs have attracted more than $9 billion in inflows, led by BlackRock Inc.'s iShares Bitcoin Trust ETF (IBIT). Meanwhile, gold-backed funds have suffered outflows exceeding $2.8 billion over the same period, according to data compiled by Bloomberg News.
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