TechFlow reported that since the launch of 10 spot Bitcoin ETFs on January 11, gold ETFs have experienced significant outflows. Meanwhile, Bitcoin ETFs have seen substantial inflows, with the two largest funds amassing nearly $10 billion in assets under management just over a month after opening.
SPDR Gold Shares (GLD), which started 2024 with $58 billion in assets under management, and iShares Gold Trust (IAU), with $26 billion at the beginning of the year, both saw net outflows.
According to data from ETF.com, between January 11 and February 14, investors withdrew approximately $2.6 billion from GLD and about $507 million from IAU.
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