Crypto News – Around $2.4 billion has been removed from gold ETFs in 2024 due to outflows from BlackRock’s iShares Gold Trust ETF and SPDR Gold Shares (GLD) product.
Could $2 Billion in gold ETF Outflows Be Fueled by Equity FOMO?
![Could $2 Billion in Gold ETF Outflows Be Fueled by Equity FOMO? | Crypto Data Space Could $2 Billion in Gold ETF Outflows Be Fueled by Equity FOMO?](https://cryptodataspace.com/wp-content/uploads/2024/02/Could-2-Billion-in-Gold-ETF-Outflows-Be-Fueled-by-Equity-FOMO-2-1024x683.jpg)
Important shares of Abrdn’s Physical Gold Shares and Precious Metal Basket Gold Shares ETFs were also dumped by investors. The outflows from these were $22 million and $41.1 million, in that order.
In a post on X yesterday, Bloomberg analyst Eric Balchunas issued a warning, pointing out that these flows may not always represent investors switching from gold to Bitcoin. Instead, in light of recent high US inflation data, they can indicate investor FOMO.
![Could $2 Billion in Gold ETF Outflows Be Fueled by Equity FOMO? | Crypto Data Space Could $2 Billion in Gold ETF Outflows Be Fueled by Equity FOMO?](https://cryptodataspace.com/wp-content/uploads/2024/02/Could-2-Billion-in-Gold-ETF-Outflows-Be-Fueled-by-Equity-FOMO-3-1024x683.png)
Meanwhile, it’s a pretty bad scene right now in the gold ETFs category… To be sure I don’t think these are ppl migrating to BTC ETFs (maybe a tiny bit) but rather just us equity fomo although that could reverse given the new economic data,
Balchunas
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