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▲ Gold, Bitcoin (BTC), ETF/ChatGPT generated image ©
A massive capital shift from gold, the traditional symbol of safe-haven assets, to digital gold, Bitcoin (BTC), has been observed, fundamentally reshaping the global investment landscape.
According to the investment media TradingNews on May 13 (local time), BlackRock's 'iShares Bitcoin Trust (IBIT)' has recorded an astonishing return, outperforming the gold spot ETF 'GLD' by a remarkable 33 percentage points since March. During this period, $4.2 billion flowed into IBIT, while $9 billion flowed out of GLD, confirming an 'unprecedented' asset rotation phenomenon where a total of $13 billion in capital horizontally shifted from gold to Bitcoin. As of Wednesday's close, IBIT recorded a 1.48% decline to $45.12, but experts view this as a temporary consolidation phase before institutional funds begin to concentrate significantly.
The shift in institutional perspective is becoming even more concrete. A survey by Nickel Digital targeting global institutional investors managing over $14 trillion in assets revealed that 86% of respondents expect stronger inflows into Bitcoin spot ETFs by 2026. Notably, not a single respondent anticipated a decrease in inflows, suggesting that Bitcoin has now firmly established itself not merely as a speculative asset but as a substitute for gold and an essential portfolio hedging tool.
Bitcoin (BTC) price is currently holding the $80,000 level and attempting to form its highest weekly close since late January this year. Although macro headwinds such as high inflation indicators and interest rate hike concerns are weighing on the market, Bitcoin is meticulously defending the psychological threshold of $80,000, demonstrating strong downside rigidity. This technical recovery is synergizing with major positive developments in regulation and distribution, such as Charles Schwab's launch of Bitcoin trading services and the Trump administration's concept of a 'strategic Bitcoin reserve'.
Of course, risks also exist. The situation where inflation fears are spreading, with the U.S. Producer Price Index (PPI) surging by 1.4%, leading to a retreat in the Fed's interest rate cut expectations and soaring Treasury yields, burdens risky assets across the board. Furthermore, news that large trading firms like Jane Street reduced some of their IBIT holdings during portfolio rebalancing could lead to short-term sentiment contraction. However, this is more indicative of profit-taking and strategic diversification rather than a major downtrend, and is interpreted as a rotational trade within the virtual asset ecosystem, including increased inflows into Ethereum spot ETFs.
In conclusion, Bitcoin spot ETFs, led by IBIT, are serving as the most robust bridge connecting traditional finance and digital assets. VanEck, through an analysis utilizing the Buffett Indicator, suggested Bitcoin's fair value at $160,000, emphasizing that the current price remains undervalued. Should legislative events, such as the scheduled CLARITY Act review on the 14th, successfully conclude, pent-up institutional demand is expected to explode, leading to a relentless rally towards the $100,000 Bitcoin era.
*Disclaimer: This article is for investment reference only, and we are not responsible for any investment losses based on it. The content should be interpreted for informational purposes only.*
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