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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.

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