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▲ Gold, Bitcoin (BTC), ETF/ChatGPT generated image ©
A massive capital shift from gold, the traditional symbol of a safe-haven asset, to digital gold, Bitcoin (BTC), has been observed, fundamentally reshaping the global investment landscape.
According to the investment media outlet TradingNews on May 13 (local time), BlackRock's 'iShares Bitcoin Trust (IBIT)' recorded an astonishing return, outperforming the gold spot ETF 'GLD' by a whopping 33 percentage points since March. During this period, $4.2 billion flowed into IBIT, while $9 billion exited GLD, confirming an 'unprecedented' asset rotation phenomenon where a total of $13 billion in capital horizontally shifted from gold to Bitcoin. As of Wednesday's close, IBIT fell 1.48% to $45.12, but experts are evaluating this as a temporary consolidation phase before a significant influx of institutional funds.
The shift in institutional perspective is becoming even more concrete. A survey by Nickel Digital targeting global institutional investors managing over $14 trillion in assets revealed that 86% of respondents expect stronger inflows into Bitcoin spot ETFs by 2026. The fact that not a single respondent anticipated a decrease in inflows suggests that Bitcoin has now fully established itself not just as a speculative asset, but as a substitute for gold and an essential portfolio hedging tool.
Bitcoin (BTC) price is currently holding the $80,000 level and attempting to form its highest weekly close since late January this year. Although macroeconomic headwinds such as high inflation indicators and interest rate hike concerns are weighing on the market, Bitcoin is rigorously defending the psychological threshold of $80,000, demonstrating strong downside rigidity. This technical recovery is synergizing with major positive developments in regulation and distribution, such as Charles Schwab's launch of Bitcoin trading services and the Trump administration's 'strategic Bitcoin reserve' concept.
Of course, risks also exist. The spread of inflation fears, with the US Producer Price Index (PPI) surging by 1.4%, is pushing back expectations for Fed rate cuts and causing bond yields to soar, which burdens risk assets across the board. Furthermore, news that large trading firms like Jane Street reduced some of their IBIT holdings during portfolio rebalancing could lead to short-term psychological contraction. However, this is more indicative of profit-taking and strategic diversification rather than a major downtrend, and is instead interpreted as a rotation within the crypto asset ecosystem, such as increasing inflows into Ethereum spot ETFs.
In conclusion, Bitcoin spot ETFs, led by IBIT, are serving as the most robust bridge connecting traditional finance and digital assets. VanEck, through an analysis using the Buffett Indicator, suggested a fair value of $160,000 for Bitcoin, emphasizing that its current price is still undervalued. If legislative events, such as the scheduled review of the CLARITY Act on the 14th, are successfully completed, pent-up institutional demand is expected to explode, leading to an unstoppable rally towards a $100,000 Bitcoin era.
*Disclaimer: This article is for investment reference only, and we are not responsible for any investment losses based on it. The content should be interpreted for informational purposes only.*
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