Bitcoin ETFs Pull In $9 Billion as Investors Ditch Gold Holdings

A divergence is emerging in US exchange-traded funds as investors move from gold to its so-called digital counterpart, Bitcoin.

Over the past five weeks, US Bitcoin ETFs have attracted more than $9 billion in inflows, led by BlackRock Inc.‘s iShares Bitcoin Trust ETF (IBIT). Meanwhile, gold-backed funds have suffered outflows exceeding $2.8 billion over the same period, according to data compiled by Bloomberg News.

While easing trade tensions has cut into demand for traditional havens like gold of late, Bitcoin’s perceived status as an alternative store of value is growing — just as concerns over US fiscal stability mount. ...