US Gold ETFs Lose $1.7B While SPDR Gold MiniShares Trust Gains $4.1B
US-listed gold ETFs saw $1.7B of net outflows year-to-date, reversing the $50B inflows of 2025 while global funds garnered $18.9B, led by $16B from Asia. The SPDR Gold MiniShares Trust attracted $4.1B of net inflows, becoming the most popular gold ETF this year.
1. US ETF Outflows Reverse 2025 Trend
US-listed gold ETFs recorded $1.7B of net outflows year-to-date, marking a sharp reversal from the $50B that American investors poured into these funds in 2025. This shift reflects waning domestic appetite after last year’s record inflows.
2. Global Inflows Concentrated in Asia and Europe
Global gold ETFs collectively attracted $18.9B in net inflows in 2026, with Asia contributing $16B and European funds adding $3.7B. China led regional inflows with $9.2B, followed by India’s $3.5B and significant contributions from the UK, Switzerland and Japan.
3. SPDR Gold MiniShares Trust Leads Net Inflows
The SPDR Gold MiniShares Trust emerged as the top-performing gold ETF, drawing $4.1B of net inflows to lead all global peers. Its popularity surpassed that of the Huaan Yifu Gold ETF, which secured $2.7B in Asia-driven flows.
4. Gold Price Swings Shape Investor Behavior
Gold prices surged 65% in 2025 and briefly added 25% by January before retreating, leaving the metal up about 8% year-to-date and down 14% from peaks. U.S. investors have pulled back, while Asian buyers appear to view the pullback as a buying opportunity.