U.S. fiscal fears drive $7B into gold and Bitcoin ETFs

Investors are buying both gold and Bitcoin as concerns mount over U.S. fiscal conditions and national debt, Bloomberg reported. According to Bloomberg data, a record $7 billion flowed into gold and Bitcoin ETFs over the past five trading days. About $3.4 billion went into State Street Investment Management’s SPDR Gold Shares (GLD), while $1.5 billion flowed into BlackRock’s spot Bitcoin ETF (IBIT). The two products ranked among the top 10 U.S.-listed ETFs by weekly inflows. Bloomberg said the simultaneous surge of funds into gold and Bitcoin stands out. It noted that during past bouts of market stress, gold drew attention as a safe-haven asset while Bitcoin was relatively overlooked. More recently, however, growing concerns over expanded U.S. government borrowing, the dollar’s value, and efforts to suppress long-term interest rates have lifted both scarce assets at the same time.