SPDR Gold Shares and iShares Bitcoin Trust lead $7B inflows
Business
In just five days, investors poured $7 billion into Bitcoin and gold ETFs, with SPDR Gold Shares (GLD) leading at $3.4 billion and BlackRock's iShares Bitcoin Trust (IBIT) close behind at $1.5 billion.
Both funds landed in the top 10 US ETFs of the week, pretty wild numbers for assets that aren't exactly new on the scene.
Investors shift to Bitcoin and gold
Rising concerns about US government debt and a new Treasury buyback plan have people worried about the dollar's future.
That's pushed more investors toward limited-supply assets like Bitcoin and gold, which are seen as safe spots when fiscal drama hits.
No surprise: Bitcoin shot past $80,000, while gold jumped 13% to cross $4,600 per ounce this month.