“数字黄金”逆袭！投资者弃黄金转投比特币 ETF吸金90亿美元

Group 1 - The U.S. ETF market is experiencing a polarization, with investors reducing their holdings in gold assets and shifting towards Bitcoin, referred to as "digital gold" [1][4] - Over the past five weeks, U.S. Bitcoin ETFs, led by BlackRock's iShares Bitcoin ETF (IBIT), have seen a net inflow of over $9 billion, while gold ETFs have faced an outflow of over $2.8 billion [1][4] - Recent easing of trade tensions has diminished the demand for traditional safe-haven assets like gold, while concerns over U.S. fiscal stability have strengthened Bitcoin's position as an alternative store of value [4] Group 2 - Bitcoin reached a historical high of $111,980 earlier this month, driven by positive regulatory signals and increasing macroeconomic uncertainty, while gold has seen a decline of about $190 from its recent peak despite maintaining a year-to-date increase of over 25% [4][6] - Analysts suggest that the asset rotation indicates growing market recognition of Bitcoin as a legitimate hedging tool, with Jefferies' Christopher Wood affirming the value of both gold and Bitcoin as the best hedging instruments against currency devaluation risks [4] - Critics caution that Bitcoin's high volatility still hinders its status as a true safe-haven asset, recalling past events where Bitcoin fell sharply alongside other risk assets [4] Group 3 - Some institutions argue that Bitcoin is demonstrating unique advantages, with Standard Chartered's Geoff Kendrick noting its decentralized nature enhances its effectiveness in hedging financial system risks [4] - Kendrick identifies two main pathways through which Bitcoin serves as a hedge: addressing private sector risks, such as the recent Silicon Valley Bank collapse, and government-related risks, including concerns over U.S. Treasury stability [5] - The debate surrounding Bitcoin's role as a hedge is intensifying amid increasing fiscal pressures, highlighted by Moody's recent downgrade of the U.S. credit rating due to rising deficits and debt [5] Group 4 - Despite the recent trends, gold has outperformed Bitcoin year-to-date, with a price increase of approximately 25% compared to Bitcoin's 15% rise [6]