BlackRock Bitcoin Spot ETFs Over the Year's Fund Inflows Beyond the World's Largest Gold Fund

PANews reported on May 7 that although Bitcoin's increase of 3.8% this year is far inferior to the 29% surge in gold, BlackRock's spot Bitcoin ETF (IBIT) still ranks sixth in the U.S. ETF funding list with a net inflow of US$6.96 billion, surpassing the world's largest gold ETF (GLD). This phenomenon shows that institutional investors continue to be optimistic about the long-term value of cryptocurrencies.

Gold benefited from geopolitical tensions and inflation concerns standing above $3,384 per ounce, while Bitcoin fell more than 10% from its all-time high in January. Analysts pointed out that the continued money-making process during the weak price period confirmed the asset allocation value of Bitcoin as a "digital gold". It is expected that the scale of BTC ETF will reach three times the scale of gold ETF within 3-5 years.