Disclaimer: Information found on CryptoreNews is those of writers quoted. It does not represent the opinions of CryptoreNews on whether to sell, buy or hold any investments. You are advised to conduct your own research before making any investment decisions. Use provided information at your own risk.
CryptoreNews covers fintech, blockchain and Bitcoin bringing you the latest crypto news and analyses on the future of money.
Bloomberg Analyst Compares Returns of Gold and Bitcoin Exchange-Traded Funds, 2026/04/10 11:17:37
Senior strategist at Bloomberg Intelligence, Mike McGlone, has compared the performance of exchange-traded funds (ETFs) focused on Bitcoin and gold, expressing skepticism regarding the ability of spot Bitcoin ETFs to sustain the growth of the leading cryptocurrency.
McGlone pointed out that since the launch of the iShares Bitcoin Trust ETF (IBIT) by BlackRock in January 2024, Bitcoin has appreciated by approximately 50%. The S&P 500 index exhibited a similar trend during this timeframe, while gold saw an increase of around 135%.
Related Posts
Despite the influx of capital into spot ETFs, Bitcoin’s growth has remained modest. According to the analyst, the introduction of such funds has provided only short-term support, attracting investments from retail and institutional investors.
Subsequently, investor interest waned, and some capital shifted to alternative assets. This suggests that spot Bitcoin ETFs in the U.S. have not emerged as a long-term catalyst for market growth, according to McGlone. In contrast to the cryptocurrency, gold has demonstrated superior returns as a safe-haven asset during the same period.
A few days ago, Bitcoin briefly surpassed $72,767, marking its highest level since March 18. However, the price later adjusted to $71,700, with a market capitalization of approximately $1.4 trillion. Over the week, the asset gained 7.3%, while the daily trading volume increased by 3.5% to $39.6 billion.
Previously, McGlone suggested that if Bitcoin fails to maintain the $75,000 level, it could decline to $10,000. He identified stablecoins as one of the most resilient segments of the cryptocurrency market.
