Market analyst Nate Geraci forecasts that US-based spot Bitcoin ETFs will overtake Gold ETFs in cumulative net flows, driven by their recent staggering performance, with over $2 billion in weekly inflows. This comes as Bitcoin surged by 9.23%, approaching the $70,000 mark.
Currently, Gold ETFs have around $55 billion in net inflows, compared to Bitcoin ETFs' $20.66 billion, but Bitcoin ETFs have been trading for less than a year. Their assets have reached over $65 billion, which took Gold ETFs nearly five years to achieve.
Geraci's prediction is reinforced by the limited number of spot Bitcoin ETFs compared to nearly 5000 Gold ETFs globally. Upcoming crypto bull runs and growing adoption of digital assets support the prospect of Bitcoin ETFs surpassing Gold.
Meanwhile, analyst Ali Martinez warns of a potential short-term dip in Bitcoin prices following recent gains. Bitcoin may target the $60,000 zone as a support level if prices fall, with potential to trade as low as $55,000.
