BlackRock's Bitcoin ETF Attracts 1.5% AUM Inflows While Gold ETF Sees 2.7% Outflows
Since Feb 27, BlackRock’s iShares Bitcoin Trust absorbed inflows equal to 1.5% of its assets while the SPDR Gold Shares ETF experienced outflows totaling 2.7% of AUM. IBIT’s year-to-date accumulation has now doubled GLD’s total inflows, signaling a shift in institutional demand from bullion to digital gold.
1. ETF Flow Divergence
Since Feb 27, BlackRock’s iShares Bitcoin Trust has attracted inflows equal to 1.5% of AUM while the SPDR Gold Shares ETF saw outflows of 2.7% of its assets, marking a sharp decoupling between digital and physical safe-havens.
2. Year-to-Date Accumulation Trends
IBIT inflows since the start of 2024 have now doubled the total AUM accumulation of GLD, highlighting a sustained preference shift toward spot Bitcoin products over bullion-based ETFs.
3. Institutional Hedging Behavior
Hedge funds have increased IBIT short interest even as ETF buyers step up, suggesting sophisticated desks are hedging downside risk in crypto while retail and registered investment advisors drive long positions.
4. Market Structure Implications
Oil prices topping $100 have added macro pressure on risk assets, prompting investors to rotate capital into digital gold via spot Bitcoin ETFs while maintaining defensive positioning in traditional hedges.