PANews reported on May 7 that according to CoinDesk, although Bitcoin's 3.8% increase this year is far less than the 29% surge in gold, BlackRock's Spot Bitcoin ETF (IBIT) still ranks sixth in the US ETF fund list with a net inflow of US$6.96 billion, surpassing the world's largest gold ETF (GLD) with US$6.5 billion. This phenomenon shows that institutional investors continue to be optimistic about the long-term value of cryptocurrencies.
Gold has benefited from geopolitical tensions and inflation concerns, reaching $3,384 per ounce, while Bitcoin has fallen more than 10% from its all-time high in January. Analysts pointed out that the continued attraction of gold during the period of price weakness confirms the asset allocation value of Bitcoin as "digital gold", and it is expected that the scale of BTC ETF will be three times that of gold ETF in 3-5 years.
