Bitcoin ETFs Outperform Gold Amid Rebound
Cryptocurrency-themed exchange-traded funds (ETFs) have continued their upward momentum. The Southern Double Long MSTR (07799) was up 8.15% at HK$5.705, while the Southern Double Long Coinbase (07711) gained 6.35% to HK$29.46.
The Zhitong Finance app reports that cryptocurrency-themed ETFs have continued their upward trend. This uptick comes as Bitcoin prices stage a strong rebound.
JPMorgan analysts suggest that if market hedging activity weakens, Bitcoin's relative performance will outpace gold. The firm believes that gold ETFs have fully recovered from the capital outflows seen in 2026, whereas Bitcoin ETFs have only rebounded by about half.
Following the July Federal Reserve meeting, the 'depreciation trade' that had been driving inflows into both asset classes has lost momentum over the past week. Inflation-adjusted bond yields rose and the Clarifying Law Act failed to pass the U.S. Senate.