Crypto
$7 Billion Flows Into Gold and Bitcoin as Investors Seek Scarcity Hedges
Investors are no longer choosing between gold and Bitcoin as hedges against fiscal anxiety. Instead, they're buying both.
Exchange-traded funds (ETFs) tracking these assets attracted a record $7 billion over the past five trading days, according to data compiled by Bloomberg.
The State Street Investment Management's SPDR Gold Share (GLD) took in nearly $3.4 billion, while BlackRock Inc's iShares Bitcoin Trust ETF (IBIT) received $1.5 billion.
Both GLD and IBIT cracked the top 10 US ETFs by inflows for the week, with GLD trailing only a handful of funds, including the Vanguard S&P 500 ETF (VOO).