Gold and Bitcoin ETFs Surge to Top 10 Volume Rankings Amid AI Trade Cooling

Two prominent exchange-traded funds (ETFs), the SPDR Gold Shares (GLD) and the iShares Bitcoin Trust (IBIT), have re-entered the top 10 list of most-traded ETFs by daily volume, according to new data from Bloomberg Intelligence.

This shift marks a notable change from the summer months, when semiconductor and AI-focused funds dominated the upper rankings. Senior ETF analyst Eric Balchunas highlighted the change on social media platform X, noting that GLD and IBIT are once again among the ten most actively traded ETFs.

The return of gold and Bitcoin ETFs to the top ranks suggests a broadening of interest beyond the AI trade, with some market participants seeking assets that may act as hedges against currency debasement or inflation. Gold has long been a classic hedge in this context, while Bitcoin is sometimes described as 'digital gold' by proponents.

The re-emergence of GLD and IBIT in volume rankings could indicate that some investors are diversifying away from the concentrated AI and semiconductor theme. However, it does not mean the AI trade is collapsing; rather, it suggests a more balanced allocation across sectors and asset classes.