Bloomberg ETF analyst James Seyffart believes spot Bitcoin ETFs will ultimately surpass gold ETFs in complete belongings below administration, pointing to Bitcoin’s wider vary of funding use circumstances as the important thing driver.
Extra use circumstances than gold
Talking on the Coin Tales podcast, Seyffart argued that Bitcoin serves a number of roles concurrently — digital gold, retailer of worth, portfolio diversifier, and development asset — whereas gold solely fills a kind of features.
He said:
“There are simply extra use circumstances of why anyone would put a Bitcoin ETF in a portfolio.”
He described Bitcoin as “scorching sauce” in a portfolio, saying buyers can maintain it as a wager on a development and liquidity commerce, or as a hedge in opposition to financial debasement — one thing gold can’t supply in the identical manner.
ETF flows inform a combined story
The numbers present a divergence in current months.
US-based gold ETFs recorded web outflows of $2.92 billion in March, whereas US spot Bitcoin ETFs attracted $1.32 billion in web inflows over the identical interval.
The most important US gold-backed ETF, GLD, noticed a $3 billion single-day outflow on March 4 — the most important day by day withdrawal in over two years.
Information from the Financial institution for Worldwide Settlements confirmed retail gold purchases have tripled during the last six months, whilst Wall Avenue promoting has accelerated.
Each belongings down over 30 days
Regardless of the ETF stream divergence, each belongings have moved broadly in tandem just lately.
Bitcoin was buying and selling round $66,918 on the time of publication, down 8.07% over the previous 30 days, whereas gold was down 8.25% over the identical interval, buying and selling at $4,676.
In December 2025, Constancy Digital Property analyst Chris Kuiper famous that gold and Bitcoin have traditionally taken turns outperforming, suggesting Bitcoin may take the lead after gold’s robust 2025 run.