Bitcoin BTC surpasses the allure of gold.
The exchange-traded funds in the United States have seen a notable shift, as investors began transitioning from gold to its digital counterpart, Bitcoin.
Over the past five weeks, Bitcoin exchange-traded funds in the United States attracted inflows exceeding $9 billion, led by the 'iShares Bitcoin Trust ETF' from BlackRock Inc. In contrast, gold-backed funds experienced outflows exceeding $2.8 billion during the same period, according to data collected by Bloomberg News.
This shift is partly attributed to the easing of trade tensions, which reduced demand for traditional safe havens like gold, while the perception of Bitcoin as an alternative store of value has grown, especially with rising concerns about the financial stability of the United States.
Buy and trade currencies here: $BTC