The price of gold has increased almost 29% this year, solidly exceeding 3.8% in Bitcoin (BTC). Even so, that could not dissuade investors eager to add the largest cryptocurrency to their portfolios.
Bitcoin ETF (Ibit) of Blackrock has attracted a net of $ 6.96 billion in tickets since the beginning of the year, the sixth largest amount of all the funds quoted in the stock market, according to data from the Senior ETF analyst of ETF of Bloomberg, Eric Balchunas. SPDR Gold Trust (GLD), the physically larger gold ETF in the world, fell to position number seven on Monday with net tickets of $ 6.5 billion.
The superior IBIT performance indicates the persistent confidence of institutions in Bitcoin’s long -term perspectives despite the relatively DOUR prices. Gold has risen $ 3,384, largely due to international trade disputes, renewed inflation concerns and geopolitical tensions. While BTC, called by some as digital gold, reached a record in January, is now more than 10% below that level.
“Taking more effective in that scenario is really a good long-term signal, and inspires confidence in our call that BTC ETFs will have a triple gold in 3-5 years,” Balchunas said in X.
