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Gold ETFs & Mutual Funds: ETF Listings, Feb 2024

Gold ETFs & Mutual Funds: ETF Listings, Feb 2024

Investors are increasingly diversifying their portfolios and seeking out new investment opportunities. One of the most popular ways to do this is through Exchange Traded Funds (ETFs), which offer exposure to a diversified portfolio of assets. In this article, we will discuss the latest developments in the world of Gold ETFs and Mutual Funds, as well as the ETF listings available to investors.

Cboe Global Markets

Cboe Global Markets, Inc. is a leading derivatives and securities exchange network that has announced the listing of new ETFs from iShares by BlackRock. With these new listings, BlackRock becomes the first global asset manager to list its iShares ETFs on each of Cboe's listings exchanges in the U.S., Canada, Australia, the UK, and the European Union. Three of the funds will commence trading on Cboe Australia on February 16, 2024, while two Australian hedged versions of the funds are planned to launch on February 23, 2024.

Hamilton Capital Partners Inc.

Hamilton Capital Partners Inc. has added four new ETFs to its suite of "yield maximizer" covered-call products, focusing on gold, energy, U.S. financials, and health care. The ETFs use an active covered-call strategy and hold equal-weighted equity portfolios of companies in their respective sectors.

Fidelity Investments Canada ULC

Fidelity Investments Canada ULC has launched three new all-equity ETFs and an alternative fund.

CIBC

CIBC has added seven new CDRs to its lineup.

Gold ETFs vs. Bitcoin ETFs

Gold ETFs have experienced a combined outflow of $2.4 billion since January, while Bitcoin ETFs have garnered significant inflows, accumulating a total of 705,566 BTC this year across nine approved funds. The article also mentions that Bitcoin's price has surged by 23.5% over the same period, reaching a two-year high of $52,483 on February 14. Analysts have different opinions on the shift in investment preferences, with some attributing it to a fear of missing out (FOMO) in the U.S. equity market, while others believe it is a result of gold's lackluster performance.

Robert Kiyosaki and market analysts suggest a looming battle between Bitcoin and Gold. Recent data indicates a notable shift in investor sentiment towards Bitcoin, fueled by significant inflows into Bitcoin ETFs and a corresponding outflow from Gold ETFs. The trend prompts questions about the future trajectory of both assets and their place in the evolving investment landscape. Bitcoin ETF Inflow Surges Amid Gold ETF Woes, In a recent post, Robert Kiyosaki echoed concerns raised by Andy Schectman regarding the sustainability of US Bonds and the growing preference for gold over US debt by banks. Kiyosaki predicts a potential crash in gold prices, possibly below $1200, alongside a surge in silver and Bitcoin.

This sentiment resonates with market movements as Bitcoin ETFs witness substantial inflows while Gold ETFs experience outflows. For context, on February 14th, the U.S. Spot Bitcoin ETF recorded a net inflow of $340 million, following its highest single-day inflow of $631 million on February 13th. Since the launch of the U.S. Bitcoin ETF on January 11th, total net inflows into Bitcoin ETFs have reached $4.11 billion, signaling increasing interest from ETF issuers in cryptocurrencies. In contrast, Senior Bloomberg ETF analyst Eric Balchunas highlighted a $2.39 billion outflow from Gold ETFs so far in 2024. Meanwhile, market pundits speculate that the shift towards Bitcoin ETFs may be causing the outflow in Gold ETFs.

Conclusion

Investors are increasingly diversifying their portfolios and seeking out new investment opportunities. One of the most popular ways to do this is through Exchange Traded Funds (ETFs), which offer exposure to a diversified portfolio of assets. Cboe Global Markets, Inc. is a leading derivatives and securities exchange network that has announced the listing of new ETFs from iShares by BlackRock. With these new listings, BlackRock becomes the first global asset manager to list its iShares ETFs on each of Cboe's listings exchanges in the U.S., Canada, Australia, the UK, and the European Union. Three of the funds will commence trading on Cboe Australia on February 16, 2024, while two Australian hedged versions of the funds are planned to launch on February 23, 2024.

Analysts anticipate Bitcoin encroaching on Gold’s market share sooner than expected, with Bitcoin steadily closing the gap on Gold as a sound money asset. However, according to Eric Balchunas, the influx into Bitcoin ETFs doesn’t necessarily signal a mass migration from gold to Bitcoin but rather reflects a broader trend driven by equity FOMO. Bitcoin’s Surge Threatens Gold Dominance, Data from on-chain analytics provider Checkmate suggests that Bitcoin is gradually encroaching on Gold’s territory as the premier sound money asset. Bitcoin’s market cap, currently representing 15% of the total investment-grade market cap, indicates a promising future in the realm of safe-haven assets.

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