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.)

As we knock off for the week approaching mid-summer, it strikes us how hard it is to distinguish signal from noise. Markets defying gravity gives us pause.

Don’t buy in at elevated prices.

Keep your asset allocation in full view.

Buy cheap.

Sell dear.

It’s a funny old world, isn’t it?

AI is buying engineers like they’re first-round picks. The military is investing in rare earths like it’s the 1950s space race. Tariffs are flying, cocoa’s getting scarce, and your cereal may soon come with a luxury markup.

None of it, likely, concerns your portfolio.

This new wave of tokenized shares is exciting. It has the potential to break down walls and democratize access to pre-IPO giants.

But at the moment, it’s also risky, opaque, and largely unregulated.

So while we applaud the innovation, we urge caution — especially if you’re being offered something that seems too good to be true.

Should we be concerned about the economy – much less the stock market – as President Trump heats up his tariff rhetoric?

Perhaps, tongue-in-cheek, we should first look at the data. Where are Americans spending their money these days – and how resilient is that spending in a world of higher tariffs?

The latest troubling trend shows that Americans are spending more on healthcare – often in the form of “insurance” that doesn’t insure against anything – than on necessities like food and housing:

In 1969, Americans tuned in to watch a rocket land on the moon.

In 2025, we watched a chipmaker eclipse Exxon, Apple, and the Bank of England combined — and a copper tariff threaten to derail the next phase of the digital economy.

And a digital currency backed by energy sucking algos is challenging the once almighty dollar.

It’s a hell of a time to be an investor. Or a plumber.