Record $7 Billion Flows into Bitcoin and Gold as Dollar Weakens
Investors poured $7 billion into Bitcoin and gold exchange-traded funds (ETFs) over five US trading sessions to protect themselves against a rapidly weakening dollar, according to CryptoRank. The combined inflow of $7 billion is a record for the two assets.
About $3.4 billion went into SPDR Gold Shares (GLD), while BlackRock's iShares Bitcoin Trust (IBIT) attracted roughly $1.5 billion. GLD manages over $150 billion in assets, making it the dominant institutional access point in its respective market.
Bloomberg Intelligence analyst Eric Balchunas said this five-day total is easily a record for the pair, with both GLD and IBIT ranking among the 10 biggest US ETFs by weekly inflows. IBIT's year-to-date flows had returned to positive territory after recovering from an earlier deficit.
The surge in demand came as both assets climbed sharply, with Bitcoin breaking above $80,000 and gold trading above $4,600 an ounce. The synchronized buying accelerated as investors focused on US debt, Treasury-market strains, and a softer dollar.