U.S.-listed Bitcoin exchange-traded funds quickly accumulated tens of billions in assets, reaching half of those held by gold ETFs in record time.

Since their launch in January 2024, Bitcoin ETFs have attracted substantial inflows, totaling $23.89 billion and $70 billion in total net assets, per data from SoSoValue.

For comparison, the total net assets of US-listed gold ETFs stand at $137.3 billion, according to the latest report. numbers of the World Gold Council.

This means that in just 10 months, Bitcoin spot ETFs have accumulated more than 50% of the assets held by gold ETFs, which have been around for two decades, Nate Geraci, president of The ETF Store, tweeted THURSDAY.

The rapid adoption of Bitcoin ETFs reflects, some say, the acceleration of general interest in digital assets, with recent daily inflows ranging from $192 million to $893 million.

“There is no doubt that BTC ETFs have been well received, breaking all entry records along the way,” said Ryan McMillin, chief investment officer at crypto fund manager Merkle Tree Capital. Decrypt.

In comparison, gold ETFs, launched in 2004, have long represented a stable hedge against market volatility and inflation.

“It’s difficult to compare absolute flows because 20 years between launches includes high inflation,” McMillin added.

These assets are often compared for their role as “safe havens”, with gold being valued for its historical stability and Bitcoin increasingly seen as a digital counterpart due to its limited supply and independence from systems traditional financial institutions.

Jurrien Timmer, director of Global Macro at Fidelity Investments, often characterizes Bitcoin is considered “exponential gold,” highlighting its rapid adoption curve and inherent scarcity.

His view suggests that Bitcoin’s value proposition extends beyond that of traditional “digital gold”, emphasizing instead its potential as a store of value driven by network growth and a limited offer.

Regardless, Bitcoin has become the best performing asset of 2024, climbing 65% year-to-date to $69,533. Gold also demonstrated a strong performance, with prices up 16% to $2,746.09 per ounce.

Even though the world’s largest asset fell more than 4% on Thursday, McMillin still believes Bitcoin will finish the year strong.

“We have seen some sell-offs, which could be due to larger funds re-evaluating their portfolios to make gains, or most likely some slight volatility as we get closer to the US elections,” he said .

“I wouldn’t expect us to go much lower here, not without a serious catalyst,” McMillin added.