The spot-ETF fever has gripped the crypto market in recent weeks, thanks to filings by BlackRock , Fidelity and others.
Already, NYDIG has modeled that there are $28.8 billion in bitcoin assets under management with $27.6 billion in spot-like products. There’s a massive gulf in demand for the digital and analog version of the asset in funds: there’s over $210 billion invested in gold funds while only $28.8 billion in bitcoin funds.
However, comparisons between gold ETFs and bitcoin ETFs are potentially misleading as the significant rise of gold during that time was largely due to a favorable macro environment and a weakening dollar. Remember the war on terror, China’s rise, and the beginning of a ballooning U.S. deficit all packed into a decade?
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