Gold 2.0 Rakes It In

Right on cue, as we’ve had bitcoin on the brain this week, Bloomberg notes the latest weekly flows into bitcoin ETFs.

Over the past three weeks? A cool $9 billion.

On some level, inflows make sense. Bitcoin, as a hard-coded asset that can preserve wealth in the digital age, should continue to see upside against fiat currencies.

But that isn’t happening in a vacuum.

There’s also an outflow in gold ETFs over the past few weeks:

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In other words, it’s possible that investors have taken $3 billion out of gold at the same time they’ve moved $9 billion into bitcoin. With gold prices holding up, we see room for both in an investor’s portfolio.

Should bitcoin have a speculative blow-off top later this year, as Andrew Packer noted in yesterday’s Grey Swan Live! for paid-up members, the current ETF flows may be running the other way 12 months from now.

~ Addison

The Left Hates This.
But It Could Make You Rich.

Elon Musk is dismantling the system — and tech investing expert Ian King says his next moves could spark a historic tech wealth surge. Even if he’s not a part of DOGE. Click here to see why Ian is predicting something he calls a “Dot-Gov Boom.”

P.S. We’ve recently released new research on today’s markets, and how President Trump is following through on a Great Reset of the U.S. economy. This first phase isn’t pretty – we call it the Great Fire – of which gold and bitcoin play a role for safety. Click here for more details on how it could play out.

As always, your reader feedback is welcome: feedback@greyswanfraternity.com (We read all emails. Thanks in advance for your contribution.)

Right on cue, as we’ve had bitcoin on the brain this week, Bloomberg notes the latest weekly flows into bitcoin ETFs.

Over the past three weeks? A cool $9 billion.

On some level, inflows make sense. Bitcoin, as a hard-coded asset that can preserve wealth in the digital age, should continue to see upside against fiat currencies.

But that isn’t happening in a vacuum.

There’s also an outflow in gold ETFs over the past few weeks:

Turn Your Images On

~ Addison

The Left Hates This.
But It Could Make You Rich.

As always, your reader feedback is welcome: feedback@greyswanfraternity.com (We read all emails. Thanks in advance for your contribution.)

The stock market “rebalancing” is a polite way to put it. Energy and health care are getting a healthy boost. But tech hardware and software makers are still getting dressed down and have been asked to report to the principal’s office.

The great rotation underway has triggered a series of “Hindenburg Omens.” Five have occurred in recent weeks.

The S&P 500 has traded in a 3.7% range over the past two months — less than half the 20-year median of 8.6%. One of the tightest ranges in modern history.

In trader parlance, the indexes are “flat,” a setup that often materializes before a sell-off at the top after a multi-year bull market.

Goldman Sachs told its own traders to be aware that institutional trading activity resembles a VIX reading near 35. Rather than a reading of 20, where the VIX has been trading over that same 2-month period.

The U.S. software ETF, IGV, tested its April 2025 lows last week and trades roughly 35% below its peak. The “SaaS-pocalypse” in software companies reflects the fear of Citrini’s 2028 scenario happening in real time. That divergence now exceeds the spread seen at the peak of the Great Financial Crisis.

Under the surface, the “great rotation” we wrote about last week is threatening to widen.

Despite its overly-educated 40-million-plus population, on a GDP per capita basis Canada is null. Collectively, the Great White North would rank as America’s second-lowest state, coming in above Mississippi, but below Alabama.

SpaceX is the most valuable private startup in history — and if its success continues, it might become the most valuable public company in history.

After all, as Musk famously said in 2023, “I have never lost money for those who invest in me and I am not starting now.”

For investors, SpaceX has been a wild, joyful ride — and now the journey continues!

The great rotation underway has triggered a series of “Hindenburg Omens.” Five have occurred in recent weeks.

The S&P 500 has traded in a 3.7% range over the past two months — less than half the 20-year median of 8.6%. One of the tightest ranges in modern history.

In trader parlance, the indexes are “flat,” a setup that often materializes before a sell-off at the top after a multi-year bull market.

Under the surface, the “great rotation” we wrote about last week is threatening to widen.

SpaceX is the most valuable private startup in history — and if its success continues, it might become the most valuable public company in history.

After all, as Musk famously said in 2023, “I have never lost money for those who invest in me and I am not starting now.”

For investors, SpaceX has been a wild, joyful ride — and now the journey continues!

Gold 2.0 Rakes It In – For Now

The Left Hates This.
But It Could Make You Rich.

Gold 2.0 Rakes It In – For Now

The Left Hates This.
But It Could Make You Rich.

Gold 2.0 Rakes It In – For Now

The Left Hates This. But It Could Make You Rich.

Gold 2.0 Rakes It In – For Now

The Left Hates This. But It Could Make You Rich.

The Left Hates This.
But It Could Make You Rich.

The Left Hates This.
But It Could Make You Rich.