Bitcoin Captures Attention from Gold $BTC
Exchange-traded funds in the United States have witnessed a notable shift, as investors have begun to move from gold to its digital counterpart, Bitcoin.
Over the past five weeks, Bitcoin exchange-traded funds in the United States have attracted inflows exceeding $9 billion, led by the "iShares Bitcoin Trust ETF" from BlackRock Inc. In contrast, gold-backed funds have seen outflows exceeding $2.8 billion during the same period, according to data compiled by Bloomberg News.
This shift is partly attributed to a decrease in trade tensions, which has eased demand for traditional safe havens like gold, while awareness of Bitcoin as an alternative store of value has grown, especially amid rising concerns about the financial stability of the United States.
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