Bitcoin ETFs Turn Positive as ₱178.21 billion ($3 billion) Exits Gold
Gold's price dropped 4.4% on Wednesday, its sharpest decline since January 30, as investors rotated into Bitcoin ETFs which posted ₱16.22 billion ($273 million) in net inflows over the past month after bleeding ₱112.87 billion ($1.9 billion) in early February.
Key Takeaway
Bitcoin needed 147 days to outperform gold after its 2022 bottom—this rotation may take time.
The largest US gold-backed ETF recorded a ₱178.21 billion ($3 billion) outflow on Wednesday, marking its biggest single-day withdrawal in more than two years.
Gold's sharp reversal follows a record start to 2025, when gold ETFs pulled in $18.7 billion in January and $5.3 billion in February. Bitcoin ETFs shifted from a $1.9 billion outflow on Feb. 6 to a $273 million net inflow by March 6. In native units, Bitcoin ETF balances climbed to a net increase of 4,021 BTC on March 6, reversing from a loss of 42,275 BTC a month earlier. Gold ETF holdings dropped from 1.4 million ounces to 621,100 ounces over the same stretch.
Fidelity Digital Assets Analyst Chris Kuiper said gold and Bitcoin have historically taken turns outperforming. With gold delivering a 65% return in 2025—the fourth-largest annual gain since the end of the gold standard—he expects Bitcoin to lead next. The BTC-to-gold ratio now trades near the consolidation zone seen during 2022-2023 rotation phases.
Horizon Head of Growth Joe Consorti said gold is stalling out while Bitcoin soars, with BTC positioned to overtake gold's percentage growth as the US economy accelerates and risk sentiment improves. Macroeconomic strategist Lyn Alden expects Bitcoin to outperform gold over the next 2-3 years following gold's recent rally.
Gold's price dropped 4.4% on Wednesday, its sharpest decline since the Jan. 30 sell-off. Both assets benefit from persistent fiscal deficits, trade tensions, and geopolitical uncertainty, but the anticipated risk-off to risk-on rotation could be underway. Bitcoin required roughly 147 days to establish a sustained trend outperforming gold after its 2022 bottom.
This article was written based on reporting from Cointelegraph.
