Gold’s Shine Fades As Bitcoin ETFs Rise: The New Safe-Haven Champion?

For decades, gold has been the go-to choice for safe investing. Whatever the condition of the economy, investors relied on the yellow metal as the ultimate store of value. This has not changed and people have always used it to store value, no matter the economy’s condition or the stability of the markets.
The landscape is shifting. Gold may face strong competition from Bitcoin (CRYPTO: BTC), particularly through Bitcoin-focused exchange-traded funds. The competition has perhaps been best illustrated through the iShares Bitcoin Trust ETF (NASDAQ:IBIT).
The Rise Of IBIT
IBIT was launched in January 2024 and in under a year, it has grossed almost $50 billion in assets under management.
This steep climb is not only remarkable, but unprecedented. The Bitcoin Investment Trust’s asset management business surpassed the established leaders in the market: BlackRock’s iShares Gold Trust (NYSE:IAU) and the SPDR Gold Trust (NYSE:GLD), which is the largest gold ETF globally. This milestone makes one thing clear: Bitcoin is no longer viewed as just another speculative bubble.
See Also: Blackrock’s Bitcoin Fund Breaks Records With Historic ETF Launch—Will It Surpass The World’s Biggest Gold ETF In January?
Shifting Preferences: …Full story available on Benzinga.com

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