BlackRock's Spot Bitcoin ETF (IBIT) Outpaces SPDR Gold Trust (GLD) in YTD Funds Gains
[Promt: Please rewrite the following text while preserving the HTML tags exactly as they are. Focus on rephrasing sentences and using synonyms to enhance the uniqueness of the content without changing the original meaning or adding new information. Ensure the core message and ideas remain intact, and do not alter the structure or purpose of the post.] BlackRock's Spot Bitcoin ETF has surpassed the world's largest gold fund in terms of inflows this year
IBIT's strong performance reflects institutional confidence in Bitcoin's long-term prospects despite the cryptocurrency's relatively muted price performance.
Author: Omkar Godbole | Edited by: Sheldon Reback Updated: May 7, 2025 3:56 PM Published: May 7, 2025 9:24 AM
Oh, what do I know:
- IBIT has outperformed the SPDR Gold Trust in year-to-date inflows despite weak BTC price performance.
- The steady inflow of funds reflects institutional investors' confidence in Bitcoin's long-term prospects.
Gold has risen nearly 29% this year, significantly outpacing Bitcoin's (BTC) 3.8% gain. However, that hasn't stopped investors from adding the world's largest cryptocurrency to their portfolios.
BlackRock’s spot bitcoin ETF (IBIT) has attracted net inflows of $6.96 billion year-to-date, the sixth-largest among all exchange-traded funds, according to Bloomberg senior ETF analyst Eric Balchunas. SPDR Gold Trust (GLD), the world’s largest physically-backed gold ETF, fell to seventh on Monday with net inflows of $6.5 billion.
IBIT’s gains indicate institutional confidence in Bitcoin’s long-term prospects despite its relatively weak price performance. Gold has risen $3,384, largely due to trade disputes, renewed inflation fears, and geopolitical tensions. While BTC, which some consider digital gold, hit a record high in January, it is now more than 10% below that level.
“The attraction of more cash in this situation is a really good sign for the long term and gives confidence in our forecast that BTC ETFs will triple the gains of gold in 3-5 years,” Balchunas wrote in X.
