Gold and Bitcoin ETFs Reclaim Top 10 Most-Traded U.S. Funds Amid 'Debasement Trade' Shift

Gold and Bitcoin exchange-traded funds (ETFs) have returned to the top 10 most traded U.S. ETFs, a trend that Bloomberg's Eric Balchunas attributes to the 'debasement trade' supplanting AI mania.

According to data from the Bloomberg terminal, SPDR Gold Shares (GLD) and iShares Bitcoin Trust (IBIT) have re-entered the top 10, pushing semiconductor funds out of the rankings.

GLD ranked third by value traded at $4.02 billion, while IBIT was seventh at $2.24 billion. Invesco QQQ Trust (QQQ) and SPDR S&P 500 ETF Trust (SPY) held the top two spots with $11.19 billion and $10.75 billion in value traded, respectively.

The return of these gold and Bitcoin funds is significant because it follows a trend where Wall Street has been making it cheaper for investors to swap large crypto holdings for ETF shares.