Financial Digest

Gold-backed ETFs see outflows as Bitcoin gains investment demand

  • 📰 KitcoNewsNOW
  • ⏱ Reading Time:
  • 7 sec. here
  • 8 min. at publisher
  • 📊 Quality Score:
  • News: 27%
  • Publisher: 78%

Finance News

Gold,Bitcoin,Investment

The debate between gold and Bitcoin intensifies as gold-backed ETFs experience outflows while Bitcoin gains investment demand.

Reminiscent of 2019, the debate between gold and Bitcoin rages anew as the two assets see a stark contrast in investment demand. In January, the Securities and Exchange Commission, in a long-awaited move, approved the launch of 11 spot Bitcoin-backed exchange-traded products. At the same time, global gold-backed ETFs have seen investment outflows of more than $3 billion since the start of the year.

Specifically, SPRD Gold Shares (NYSE: GLD), the world’s largest gold-backed ETFs has led the exodus in the precious metals market

 

Thank you for your comment. Your comment will be published after being reviewed.
Please try again later.
We have summarized this news so that you can read it quickly. If you are interested in the news, you can read the full text here. Read more:

 /  🏆 13. in FİNANCE

Finance Finance Latest News, Finance Finance Headlines

Similar News:You can also read news stories similar to this one that we have collected from other news sources.

Bitcoin Approaches $45,000 With US Spot ETFs Showing Steady InflowsBitcoin topped $45,000 for the first time in almost a month with the US exchange-traded funds holding the digital currency seeing a steady inflow of cash from investors and risk appetite rising across financial markets.
Source: BNNBloomberg - 🏆 83. / 50 Read more »

Are investors swapping their gold for Bitcoin as inflation fears rise?The Kitco News Team brings you the latest news, videos, analysis and opinions regarding Precious Metals, Crypto, Mining, World Markets and Global Economy.
Source: KitcoNewsNOW - 🏆 13. / 78 Read more »