BlackRock’s Bitcoin ETF Leaves Gold in the Dust—$6.96B Floods In Since January

Wall Street’s crypto love affair hits new highs as BlackRock’s Bitcoin ETF outshines its own gold offering. The numbers don’t lie: $6.96 billion in inflows year-to-date, while traditionalists cling to their shiny rocks.

The Takeover Is Real

Digital gold just schooled the OG commodity. Investors are voting with their wallets—Bitcoin’s institutional embrace keeps widening, while gold ETFs look like retirement-home relics.

Cynic’s Corner

Funny how fast the ‘serious money’ crowd pivoted from ‘magic internet money’ to ‘strategic allocation.’ But hey, when fees are on the line, even bankers learn new tricks.

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.

$IBIT took in another half a billion yest, extending inflow streak to 15 days and is now 6th in YTD flows, passing $GLD which is notable bc IBIT is only up 4% vs GLD having the run of its life. To take in more cash in that scenario is really good sign for long term, and inspires… pic.twitter.com/9HWqYxtyJ4

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.