BlackRock’s spot Bitcoin exchange-traded fund (IBIT) has recorded $6.96 billion in net inflows since the start of 2025, surpassing the SPDR Gold Trust (GLD) to become the sixth most popular ETF by inflows.
GLD, the world’s largest physically backed gold ETF, slid to seventh place on Monday with $6.5 billion in net inflows, according to Bloomberg’s senior ETF analyst Eric Balchunas.
The shift highlights a growing preference among institutional investors for digital assets over traditional safe-haven assets like gold.
Investors Remain Confident in Bitcoin Compared to Gold
Despite Bitcoin’s recent price dip, which is down more than 10% from its January peak, investors appear confident in the cryptocurrency’s long-term value.
In contrast to Bitcoin, gold has climbed more than $3,000 this year amid concerns over inflation, global trade tensions, and geopolitical instability.
Balchunas noted on X that the strong inflows into IBIT are “a really good sign for the long term” and support projections that Bitcoin ETFs could eventually hold three times as much capital as their gold counterparts.
As reported, spot Bitcoin ETFs are driving an aggressive wave of accumulation, buying nearly six times more Bitcoin last week than was created by miners.
According to a May 4 report from asset allocator HODL15Capital, spot Bitcoin ETFs acquired 18,644 BTC over the past week.
In contrast, only 3,150 BTC were mined during the same period, roughly 450 coins per day.
While spot Bitcoin and Ethereum ETFs have already received approval, the SEC has yet to greenlight any ETF product with staking functionality — something already seen in markets like Canada and Europe.
In a parallel development, the Crypto Council for Innovation, backed by major firms including a16z crypto, Consensys, and Kraken, has called on the SEC for regulatory clarity on staking.
In a letter to Commissioner Hester Peirce, the coalition argued that staking is a technical process, not a securities transaction, and urged the agency to support its responsible inclusion in ETFs.
Currently, more than 70 crypto ETF applications are awaiting a decision from the SEC, according to Bloomberg.
Bitcoin Holds Momentum as Markets Await Fed Clarity
In its latest pre-FOMC market update shared with Cryptonews.com, Nansen noted a shift toward cautious optimism as investors anticipate three rate cuts from the Federal Reserve in 2025, beginning potentially in July.
While no changes are expected at the upcoming meeting, the broader market outlook has improved, pricing in reduced recession risk and more benign macro outcomes.
US consumption has slowed but remains resilient at 1.8% annualized, with some pressure on low- and middle-income households.
Inflation, particularly in services, remains above the Fed’s target, while jobless claims have edged higher but are not signaling a labor market breakdown.
Fiscal policy proposals such as tax cuts and manufacturing incentives offer upside, though uncertainty over trade negotiations persists.
Bitcoin’s technicals have strengthened compared to equities, Nansen said.
The firm added that BTC continues its upward trend, bolstered by strong momentum indicators, favorable moving averages, and renewed inflows into spot ETFs.
In contrast, the S&P 500 has failed to break above its 200-day moving average, suggesting market hesitance toward riskier equity exposure.
Despite the overall improvement in sentiment, Nansen notes that optimism has already been partially priced in.
This reduces the asymmetry of the most bullish outlook and increases the need for fresh upside catalysts, particularly progress on trade policy.
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