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After the launch of the Bitcoin ETF in the United States, a large amount of capital flowed out from Gold ETFs
2024/02/16 00:09
Since the launch of 10 spot
Bitcoin ETFs on January 11, there has been a large outflow of funds from gold ETFs. The Bitcoin ETFs have seen a huge inflow of funds, with the two largest ETFs nearing $10 billion in assets under management just over a month after opening.
In early 2024, SPDR Gold Shares (GLD) and iShares Gold Trust (IAU), both gold ETFs based on managed assets with $58 billion and $26 billion respectively in assets under management at the beginning of the year, experienced net outflows.
According to data from ETF.com, from January 11 to February 14, investors withdrew approximately $2.6 billion from GLD and about $507 million from IAU.
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