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:
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.
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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.
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