Bloomberg Analyst: Gold and Bitcoin ETFs Attract Over $7 Billion in a Week

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Bitcoin news broke on Friday as Bloomberg ETF analyst Eric Balchunas reported that gold and Bitcoin ETFs attracted over $7 billion in net inflows over five trading days. SPDR Gold Shares (GLD) and iShares Bitcoin Trust (IBIT) led the way, ranking among the top ten for capital inflows. IBIT turned positive in year-to-date flows after earlier outflows. The Fear & Greed Index remains skewed toward risk-on assets, as investors shift toward debasement trades amid inflation concerns.

Odaily Planet Daily reports that Bloomberg ETF analyst Eric Balchunas said that gold ETFs and Bitcoin ETFs combined saw over $7 billion in inflows over the past week, marking the highest level on record for a five-day period, indicating that investors are refocusing on the "debasement trade."

Balchunas noted that, against the backdrop of market focus shifting from artificial intelligence (AI) themes to safe-haven and inflation-hedging assets, the gold ETF SPDR Gold Shares (GLD) and the bitcoin ETF iShares Bitcoin Trust (IBIT) emerged as top destinations for capital inflows, both ranking among the top ten ETFs for inflows over the past week.

Among these, BlackRock’s spot Bitcoin ETF, IBIT, has also shown significant improvement in its fund flows this year. Balchunas noted that IBIT’s cumulative fund inflows since the beginning of the year have turned positive, fully offsetting the previous large outflows.

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