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Author: Admin | 2025-04-28
Studio shot of Golden Bitcoin Coin and mound of gold on black backgroundgettyBitcoin and gold were both top of mind at last week’s 2024 Investment U Conference in Ojai, California, which I had the privilege of presenting at. There was a rumor circulating that the Bitcoin price rally was sparked by a large financial institution recommending a 2% to 3% weighting to some of its high-net-worth clients. I can’t confirm this, but it’s being reported that Bank of America and Wells Fargo are now offering the Bitcoin ETFs to certain wealth management clients, joining Charles Schwab, Robinhood and others.The price of Bitcoin pumped more than 45% in February, with around half of those gains recorded in the final week, as demand for the long-awaited spot Bitcoin ETFs hit a fever pitch. Combined daily trading volume for the 10 ETFs was a jaw-dropping $7.7 billion on Wednesday alone, fueled by institutional speculation and leveraged bets that pushed the price of the underlying asset to a near-record high.Trading volume for spot Bitcoin ETFs jumped to nearly $8 trillionU.S. Global InvestorsRemarkably, as of February 29, the combined value of the holdings in U.S.-based Bitcoin ETFs was roughly half the value of all known gold ETFs. The Bitcoin ETFs, which began trading in January, held $43.2 billion, while gold ETFs held $92.3 billion.Size of Bitcoin ETFs about half of physical gold ETFsU.S. Global InvestorsThe cryptocurrency’s breathless catch-up to gold is reflected in the dramatic difference in sentiment between the two assets right now. CoinStats’
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