Fast Take
After the launch of the primary Gold ETF SPDR Gold Shares (GLD) in 2004, the dear steel launched into a outstanding bull run, hovering from round $430 to $1,800 per ounce by August 2011.
This surge has fueled optimism that Bitcoin might probably expertise an analogous, if no more spectacular, ascent for the rest of the last decade after the launch of the Bitcoin ETFs in January.
Nonetheless, a more in-depth examination of the efficiency of gold miners’ ETFs, such because the $13 billion VanEck Gold Miners ETF (GDX), reveals a stark distinction. Whereas GLD has appreciated by a powerful 449% since its inception, GDX, which debuted in 2006, has declined by 14%.
Curiously, an analogous divergence seems to unfold within the digital property area. Because the launch of IBIT by BlackRock on Jan. 11, Bitcoin itself and the ETF have risen 27%. Nonetheless, the Valkyrie Bitcoin Miners ETF (WGMI), which tracks mining firms, has shed 10% of its worth throughout the identical interval.
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