Crypto NewsAnalysisBloomberg Analyst Compares Bitcoin to Gold: "BTC Reached Where Gold Reached in...

Bloomberg Analyst Compares Bitcoin to Gold: "BTC Reached Where Gold Reached in 5 Years in Just 10 Months!"

Bloomberg senior ETF analyst Eric Balchunas noted that US spot Bitcoin ETFs have surpassed a significant $20 billion milestone.

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The rise in Bitcoin also had a positive impact on US spot Bitcoin ETFs, with inflows recorded for four consecutive days.

With the inflows that occurred yesterday, October 16, US spot Bitcoin ETFs exceeded $20 billion in net inflows, while Bloomberg senior ETF analyst Eric Balchunas said in his post that $20 billion was an important turning point.

He also noted that $20 billion is the toughest benchmark for ETFs to surpass, adding that US spot Bitcoin ETFs experienced significant net inflows of $1.5 billion this week.

Comparing Bitcoin ETFs to gold ETFs at this point, Balchunas pointed out that it took spot gold ETFs about five years to reach the same level. In comparison, it took spot Bitcoin ETFs only 10 months to pass the $20 billion net flow milestone. This shows significant investor interest.

“Bitcoin ETFs surpassed $20 billion in total net flows (the all-important number, the hardest metric to grow in the ETF world) for the first time after a big week of $1.5 billion.

For context, it took gold ETFs about 5 years to reach the same number. Total assets for spot Bitcoin ETFs have now reached a new high of $65 billion.”

Balchunas reported in a post on X in late September that flows in spot BTC ETFs had reached a record $17.8 billion since the beginning of the year. The analyst also revealed the institutional platforms that hold the most Bitcoin, and noted that Blackrock ranked third on the list.

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*This is not investment advice.

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