Gold, Bitcoin ETFs Reclaim Top 10 Amid Shift From AI Mania

Gold and Bitcoin ETFs have climbed back into the top 10 most-traded U.S. exchange-traded funds (ETFs) in recent days, pushing semiconductor funds out of the rankings, according to Eric Balchunas's terminal data.

The return of GLD and IBIT to the top 10 marks a shift from the 'AI mania' that dominated trading this summer, with Balchunas suggesting it may be replaced by the 'debasement trade.'

BlackRock reduced the minimum transaction size for Bitcoin-to-ETF swaps to $1 million in July, making it easier and cheaper for investors to swap large crypto holdings for ETF shares.

This development has facilitated over $5 billion of such conversions, with BlackRock's Robbie Mitchnick stating that access is expanding and more conversions are expected.