A new evaluation presented by prominent Bloomberg analysts Eric Balchunas and Andre Yapp has taken the internet by surprise. Per Balchunas and Yapp, Bitcoin ETFs will soon surpass Gold ETFs under management in less than two years.
The analysts claimed that if BTC ETFs continue their recent price surge, they could soon surpass gold ETFs in terms of active investment and popularity.
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Gold vs. Bitcoin in 2024
The analysts were quick to share their recent hypothesis, putting out reasons why Bitcoin spot ETFs are poised to gain market favor.
In a tweet shared by Bitcoin magazine, BI analysts noted how “gold’s pain is Bitcoin ETFs gain in the near future.” To decode further, the analysts claimed that the ETFs have garnered incredible attention due to a lack of interest and declines in the price of gold.
“The initial success of spot Bitcoin ETFs has been sweetened by declines in both the price and interest of gold ETFs. This has triggered a battle of assets. The tweet said
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The analysts further noted how Bitcoin ETFs, which are “barely six weeks old,” have taken in over “$8 billion more than their gold peers.”
Decoding the Spot Bitcoin ETF Success Trail
Taking their analysis to a new level, Balchunas and Yapp later decoded metrics related to the massive success of the ETFs.
“Bitcoin ETFs have taken in about $5 billion in net new assets since launching in early January. And $12 billion, excluding outflows from GBTC. That contrasts with gold ETFs $3.6 billion in outflows.”
Both analysts later dubbed the launch of Spot BTC ETFs as one of the most historic launches in history.
“Though little of that gold cash likely went into Bitcoin ETFs, their existence and enthusiasm surrounding the new funds. It was the most successful launch in history by many measures. This has added new competition for the metal,” the analysts later shared.