Following the launch of a Bitcoin ETF, there has been a steady market for cryptocurrencies. ARK Invest CEO Cathie Wood has stated that Bitcoin is substituting gold as a store of value asset, with a flight to safety towards Bitcoin instead of gold. This trend is attributed to the availability of spot Bitcoin ETFs, leading to a substitution into Bitcoin. Fidelity has also included a 1-3% Bitcoin allocation in their 'All-in-One' asset allocation funds in Canada using spot Bitcoin ETFs, indicating the integration of Bitcoin into the traditional finance ecosystem.
JUST IN: Fidelity now includes a 1% allocation of their #Bitcoin ETF in their "All-in-One" Conservative ETF in Canada 👀 #Bitcoin is ingraining itself into the traditional finance ecosystem 🙌 https://t.co/IA4TU5bjpw
Fidelity now includes Bitcoin in their All-in-One “conservative” ETF “One ticket solution diversified across regions, market caps and investment styles” It’s happening https://t.co/EaokIer5ex
Kind of incredible that net flows into Bitcoin with the launch of 11 ETFs have amounted to less than 20,000 bitcoin. Meanwhile, Bitcoin ETFs now control over 3% of total bitcoin supply vs 0.2% for Gold ETFs versus gold. "Decentralized futooor!!!" https://t.co/OjKcnTQiNM https://t.co/NDmTDMkDvQ
Fidelity has a 1-3% bitcoin allocation in their "All-in-One" asset allocation funds in Canada, using spot bitcoin ETFs. The "Conservative" version is posted below. When and if this become the norm for portfolios in the US, wow... @scottmelker https://t.co/1NgoKhzf2b
Just noticed: Fidelity has a 1-3% bitcoin allocation in their "All-in-One" asset allocation funds in Canada, using spot bitcoin ETFs. The "Conservative" version is posted below. When and if this become the norm for portfolios in the US, wow... @scottmelker https://t.co/YNnAaOhoUt
Investors Are Ditching Gold for Bitcoin: Analyzing Reports @CathieDWood attributes this trend to a more streamlined and accessible means of acquiring the digital asset through the newly launched ETFs. https://t.co/mDmmVsJyhV
NEW: “This chart just shows you that even relative to gold, #Bitcoin has been rising. There’s now a substitution into #Bitcoin, and we think that is going to continue,” says ARK Invest founder, CIO and CEO Cathie Wood https://t.co/2LbTfXYGmO
New view of #BTC Flows to the ETFs. What stands out: The first few weeks were flat with the market taking time to absorb massive GBTC outflows (125K first two weeks) Last six trading days we've had 20K net BTC inflows. It's early but that's a very bullish trend. https://t.co/DaQXqWp1Zf
Bitcoin Emerges as 'Flight to Safety' Asset, Outshining Gold, Says Cathie Wood #bitcoinvsgold #cathiewood https://t.co/0wOChvqWgY
.@CathieDWood says there is a "substitution" from gold into $BTC , which will continue thanks to the availability of spot #bitcoinETFs. https://t.co/hNGpeoLjUe
#Bitcoin-focused investment vehicles received more than $700 million in fresh money last week as inflows to new spot #bitcoinETFs offset the abating outflows from $GBTC, @coinshares says. Watch "Chart of the Day" explain, presented by @cryptocom: https://t.co/XSatLlZDg1 https://t.co/lkSOComnDY
Bitcoin pumpers claim the launch of spot #BitcoinETFs will do for #Bitcoin what the Nov. 2004 launch of $GLD did for #gold. But at that time gold was coming out of a 20+ year bear market, with the price barely over $400 per ounce. The gold price would have risen without the ETF.
ARK Invest CEO Cathie Wood, has been vocal about her belief in Bitcoin's potential to overshadow gold as the preferred safe-haven asset https://t.co/i7nJW38GBp
ARK Invest’s Cathie Wood Says ‘Substitution’ of Gold for Bitcoin (BTC) Now Underway https://t.co/LH6GUod1fj
Ark Invest CEO Cathie Wood said that Bitcoin is actually replacing gold as a value storage asset. BTC is acting more as a safe-haven asset and an asset for investors to pursue high-quality assets in times of economic uncertainty. This situation will Keep going, because there is…
There’s a flight to safety, and it’s going toward #Bitcoin not gold, says @CathieDWood https://t.co/gYPQ6yChuY
JUST IN: ARK Invest CEO Cathie Wood says #Bitcoin is substituting gold as a store of value asset. It's "digital gold" 🚀 https://t.co/7C0CmId8g7
Pretty impressive how steady crypto markets have been since the $BTC ETF launch. It's probably fair to label an event like that as peak hype or excitement. Despite the initial pullbacks, most major coins are at almost the exact same price. $BTC $ETH $SOL $AVAX all +/- 6% https://t.co/XEGgGmwM2t