Bitcoin Beats Gold: Wall Street’s Latest Obsession?
It seems that BlackRock’s spot Bitcoin exchange-traded fund (ETF), the iShares Bitcoin Trust (IBIT), has managed to leapfrog the venerable SPDR Gold Trust (GLD) in year-to-date (YTD) inflows. Yes, you read that right—Bitcoin is suddenly the go-to asset for institutional portfolios, at least for 2025.
This momentous achievement comes at a rather curious time: the price of gold is dancing on historic highs, boasting a YTD return of 23.07%. How quaint. Who needs gold when Bitcoin is here to take over the world?
The Age-Old Battle of ‘Safe’ Assets
At the dawn of 2025, geopolitical chaos and a waning U.S. dollar—thanks to President Trump’s new trade escapades—ushered in the perfect storm for gold. Historically, such turbulence sends investors flocking to the yellow metal as their safe-haven of choice. But this time, Bitcoin took a look at the script and decided to tear it up.
BlackRock’s Bitcoin ETF, IBIT, has raked in $6.96 billion in YTD inflows, surpassing gold’s $6.51 billion. Perhaps it’s time for gold to retire gracefully? On top of that, IBIT now stands at a stunning sixth place among all U.S. ETFs for YTD flows. Not bad for an asset that’s only up 4.03% this year, while gold had its *moment* of glory, hitting an all-time high of $3,435 per ounce.
$IBIT took in another half a billion yesterday, extending its inflow streak to 15 days. Now sixth in YTD flows—passing $GLD! Not bad for an ETF that’s up 4% while GLD is living its best life.
— Eric Balchunas (@EricBalchunas) May 6, 2025
Some optimists—undeterred by gold’s shine—are taking this fund flow divergence as a sign that institutional investors are increasingly convinced Bitcoin isn’t just a trendy gamble anymore. It’s a permanent fixture in portfolios. Perhaps Bitcoin really is the new gold, or better yet, the new unicorn.
“Wall Street can’t get enough of Bitcoin,” tweeted Zaheer of Split Capital, encapsulating the madness with a touch of sarcasm. The excitement for crypto is palpable, with fund managers frothing at the bit (pun intended).
Bitcoin’s Institutional Invasion
Of course, Bitcoin’s meteoric rise to institutional stardom wasn’t without its help from regulatory good news. Specifically, the U.S. Securities and Exchange Commission (SEC) finally saw fit to roll back SAB 121, the pesky regulation that made it nearly impossible for banks to offer crypto custody services. Once that hurdle was cleared, the financial giants wasted no time in throwing their weight behind Bitcoin.
By the end of April, IBIT recorded its second-largest single-day inflow ever, bringing in a staggering $970.9 million on April 28. To put that in perspective, it now holds more than 600,000 Bitcoin—three times the amount held by its closest rival, Fidelity’s FBTC. All hail the king of crypto.
Meanwhile, Bitcoin’s price continues to creep upwards, with a nearly 3% rise in the last 24 hours. As of writing, it’s hovering around $97,026, with a day’s fluctuations between $93,592 and $97,511. The longer-term outlook is even more impressive, with a 29% increase in the last 30 days and a 52% year-over-year jump. Gold, take notes.
Read More
- Clash Royale May 2025: Events, Challenges, Tournaments, and Rewards
- The Last of Us season 2 confirms spring 2025 release on HBO
- How To Install Mods For Oblivion Remastered
- HBO shares The Last of Us season 2 release window
- WWE Raw Review, Dec 9, 2024: Rhea Ripley DESTROYED Raquel Rodriguez
- Clash Royale Best Boss Bandit Champion decks
- How to Get Umbra Sword in Elder Scrolls Oblivion Remastered?
- Cookie Run: Kingdom Pure Vanilla Cookie (Compassionate) Guide: How to unlock, Best Toppings, and more
- BBC shares Eurovision 2025 update, with host city confirmed
- Original The Elder Scrolls IV: Oblivion Designer Says Bethesda’s Remaster Is So Impressive It Could Be Called ‘Oblivion 2.0’
2025-05-07 17:44