Gold shed billions in March. Bitcoin quietly pulled in more than a billion.
Flows Tell A Diverging Story
US spot Bitcoin exchange-traded funds attracted $1.32 billion in net inflows last month, even as US-based gold ETFs bled $2.92 billion in net outflows over the same period.
The gap caught the attention of Bloomberg ETF analyst James Seyffart, who said the trend reflects something bigger than a monthly blip — it points to Bitcoin’s growing appeal as a multi-purpose portfolio asset.
“There are just more use cases of why somebody would put a Bitcoin ETF in a portfolio,” Seyffart said on the Coin Stories podcast, published to YouTube on Friday.
Gold’s rough March was punctuated by a single brutal day. On March 4, GLD — the largest US gold-backed ETF — recorded a $3 billion outflow, its steepest single-day withdrawal in over two years.
Data from the Bank for International Settlements,
Continue reading
Join the conversation!
Please share your thoughts about this article below. We value your opinions, and would love to see you add to the discussion!