|

Bitcoin competes with Gold: BTC ETFs achieve 88% of assets under management by US Gold ETFs

  • Bitcoin ETFs hold over 1.13 million BTC and have $121.83 billion assets under management.
  • Compared to AUM of all Gold ETFs trading in the US, Bitcoin ETFs have 88% of the AUM.
  • Bitfinex analysts predict BTC rally to $200,000 by mid-2025 as the crypto closes 2024 with historic milestones.
  • Derivatives traders on Binance maintain bullish bias amidst rising BTC dominance.

Bitcoin (BTC) holds steady above $106,000 on Tuesday as BTC dominance rises. The largest cryptocurrency has observed a steady inflow of capital from institutional investors to US spot ETFs. 

Data from Farside investors shows that Bitcoin spot ETFs recorded $2.167 billion in inflows last week. The assets under management (AUM) for the 12 Bitcoin Spot ETFs stand at 88% of the AUM of the Gold ETFs traded in the US as of Tuesday. 

Bitcoin vs. Gold: Institutions throw their weight behind ‘digital gold’

Institutional investors poured over $2.167 billion in capital in US Bitcoin spot ETFs last week, between December 9 and 13, according to Farside Investors. Per Bitbo, the 12 Spot Bitcoin ETFs currently hold over 1.135 million BTC tokens worth $121.83 billion. 

The 12 Spot Bitcoin ETFs hold over 5% of Bitcoin’s 21 million token supply. 

ETF.com shows that Gold ETFs traded in the US market have over $138 billion in AUM. Bitcoin ETFs stand at 88% compared to Gold ETFs, fueling the “digital gold” narrative for BTC. 

Bitcoin traders are bullish on BTC, while the token trades above $106,000

Bitcoin’s daily price chart shows that BTC is holding steady above its support zone between $102,650 and $103,333. Derivatives traders maintain a bullish bias on Bitcoin, according to Coinglass data. The long/short ratio on Binance exceeds one, signaling there is a higher frequency of long positions compared to short ones on the derivatives exchange.

Bitcoin hit its new all-time high at $108,353 on Tuesday. Key technical indicator Moving Average Convergence Divergence (MACD) supports a thesis of further gains in BTC price. The green histogram bars above the neutral line represent the underlying positive momentum in the Bitcoin price trend. 

Bitcoin

BTC/USDT daily price chart

Bitcoin could find support at the psychologically important $100,000 level if there is a correction in BTC. 

Author

Ekta Mourya

Ekta Mourya

FXStreet

Ekta Mourya has extensive experience in fundamental and on-chain analysis, particularly focused on impact of macroeconomics and central bank policies on cryptocurrencies.

More from Ekta Mourya
Share:

Editor's Picks

Japanese Yen gains after hawkish Fed hold
USD/JPY trades near the 163.60 area on Wednesday, recovering from its immediate post-announcement decline as investors assess a generally hawkish Federal Reserve (Fed) monetary policy decision. The Federal Open Market Committee (FOMC) left the Fed funds rate unchanged within the 3.50%–3.75% range, as widely expected.
XRP edges up as Flare simplifies staking process
Ripple (XRP) holds modest gains, trading around $1.08 at the time of writing on Wednesday. The remittance token mirrors the general neutral-to-bullish outlook in the crypto market, as focus shifts to the Federal Reserve (Fed) rate decision. Market participants widely expect the Fed to leave interest rates unchanged in the 3.50%-3.75% range.
Crypto Today: Bitcoin, Ethereum, XRP post modest gains ahead of Fed rate decision
Cryptocurrency prices are broadly stable on Wednesday ahead of the Federal Reserve (Fed) interest rate decision. Bitcoin (BTC) holds above $64,000 but is struggling to sustain its rebound while Ethereum (ETH) sits above the short-term $1,900 support. Meanwhile, Ripple (XRP) is approaching the pivotal $1.10 resistance, a level that could shape the token’s upward trajectory if it is breached.
Bitcoin muted as markets fret over Fed, crypto bill
There are two main drivers for crypto this week, keeping Bitcoin trapped within its $58,000-$65,000 summer consolidation range. The cautious tone is being set by the Fed's policy decision scheduled later on Wednesday, a key catalyst for risk assets.
Bitcoin: BTC holds firm, but the $100 Oil threat could change the game
Bitcoin (BTC) is modestly recovering, trading at $65,400 on Friday and holding firmly above the key support zone. US-listed spot Bitcoin Exchange Traded Funds (ETFs) supported BTC’s modest recovery as they continued to attract institutional inflows through Thursday, pointing to the third consecutive week of inflows.