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Galaxy Digital Research Reveals Bitcoin ETFs Surpassing Gold ETFs
Recent research by Galaxy Digital has highlighted a pivotal shift in the investment landscape, as Bitcoin ETFs have outperformed their gold counterparts. According to the findings, institutional investors are increasingly turning to Bitcoin-related products and services, driving the cryptocurrency’s market presence to unprecedented heights.
The study shows that Bitcoin’s market capitalization has reached 14% of gold’s value, a milestone that underscores the growing acceptance of digital assets in traditional finance. This trend is likely fueled by concerns surrounding central banks’ monetary policies, as investors seek alternative stores of value and hedges against inflation.
Notably, BlackRock’s iShares Bitcoin ETF (IBIT) has demonstrated remarkable performance compared to its gold-based counterpart, the iShares Gold ETF (IAU). Meanwhile, Bitcoin ETFs have surpassed gold ETFs in terms of assets under management, with a substantial gap separating the two categories.
Galaxy Digital CEO Mike Novogratz is confident that this trajectory will continue and even intensify. He forecasts that Bitcoin’s total market value could surpass that of gold within a five to eight-year time frame.
This development underscores the profound changes underway in the global financial system, as institutional investors increasingly gravitate towards Bitcoin-related products. As such, it comes as no surprise that Federal Reserve Chair Jerome Powell has recently acknowledged Bitcoin’s digital nature by describing it as a “digital version” of gold.
While Powell maintained his measured stance on the cryptocurrency’s potential, he did not shy away from acknowledging its unique properties and growing appeal. His comments further underscore the shifting perception surrounding Bitcoin among top financial officials.
In conclusion, these findings suggest that the allure of Bitcoin is far from waning. As the cryptocurrency continues to carve out a distinct niche within the broader financial landscape, we may witness an unprecedented level of mainstream adoption.
Source: blockonomi.com
