Bitcoin ETFs Surge as Investors Seek Safe Havens Amidst Economic Uncertainty

Over the past five weeks, Bitcoin Exchange-Traded Funds (ETFs) in the U.S. have witnessed significant inflows, exceeding $9 billion, primarily driven by BlackRock’s iShares Bitcoin Trust (IBIT). This surge contrasts with gold-backed funds, which experienced a substantial outflow of over $2.8 billion during the same period. 2023 has seen investors flock towards safer investment options as concerns around U.S. inflation and government debt continue to rise.