Bitcoin has been on an evident downfall since the start of the year as it plunged below $60,000 for the first time since late 2024. The largest funds tracking its performance have lost over $8 billion in weeks.<\/p>\n
Although gold began the year on a positive note, hitting a new all-time high, its trajectory reversed, and it\u2019s in the red now. But where is that money going?<\/p>\n
The exodus from the Bitcoin ETFs began last November, shortly after the October $19 billion crash<\/a>. Investors pulled out $3.5 billion in November, and kept the withdrawals within the billions in December and January. March and April were a lot better, with net inflows of $1.32 billion and $1.97 billion, respectively.<\/p>\n However, the trend changed once again in May with $2.43 billion withdrawn, while June is on track to set a negative record for the highest net outflows, currently sitting at just over $4 billion. The cumulative total net inflows are down<\/a> from the $61.19 billion record in October to $51.61 billion as of last week, which means a near $10 billion reduction. Moreover, they have bled approximately $8 billion in the past seven weeks alone.<\/p>\n The landscape around gold is rather similar. The funds attracted fresh capital at the start of the year, which coincided with the asset\u2019s surge to a new all-time high, but the numbers tell a different story now. Data from the Kobeissi Letter indicate that the ETFs tracking BTC and the precious metal have posted $12 billion in cumulative outflows since April.<\/p>\n \u201cThe largest US gold-backed ETF, $GLD, is down -13% since the start of April, while the largest Bitcoin ETF, $IBIT, is down -12%.\u201d<\/p>\n<\/blockquote>\n It\u2019s not like all investment assets have seen such withdrawals; further data from the same analysts show<\/a> that US-listed ETFs have attracted over $1 trillion in net inflows in 2026, on track to set a new record by the end of the year. So, where is the money from BTC and gold going?<\/p>\n The Kobeissi Letter said US semiconductor ETFs have attracted $20 billion in cumulative inflows within essentially the same timeframe in which the funds tracking gold and bitcoin had lost $12 billion. This trend accelerated in mid-May and continued in June.<\/p>\n The analysts concluded that the semiconductor ETFs, $SOXX and $SMH, are up 81% and 60%, respectively, over the same period in which $GLD and $IBIT are down 13% and 12%, respectively.<\/p>\n Retail investors appear to be rotating out of gold and Bitcoin into semiconductor stocks:<\/p>\n Since April, US gold and Bitcoin ETFs have posted -$12 billion in cumulative outflows.<\/p>\n Over the same period, US semiconductor ETFs have attracted +$20 billion in cumulative inflows.<\/p>\n This\u2026 pic.twitter.com\/VHuDTB0nyN<\/a><\/p>\n \u2014 The Kobeissi Letter (@KobeissiLetter) June 27, 2026<\/a><\/p>\n<\/blockquote>\n \u0397 \u03b8\u03ad\u03c3\u03b7 Bitcoin and Gold Are Bleeding \u2013 So Where Is the Money Going?<\/a> \u03b5\u03bc\u03c6\u03b1\u03bd\u03af\u03c3\u03c4\u03b7\u03ba\u03b5 \u03b3\u03b9\u03b1 \u03c0\u03c1\u03ce\u03c4\u03b7 \u03c6\u03bf\u03c1\u03ac \u03c3\u03c4\u03bf CryptoPotato<\/a>.<\/p>","protected":false},"excerpt":{"rendered":" Bitcoin has been on an evident downfall since the start of the year as it plunged below $60,000 for the first time since late 2024. The largest funds tracking its performance have lost over $8 billion in weeks. Although gold began the year on a positive note, hitting a new all-time high, its trajectory reversed, […]<\/p>\n","protected":false},"author":1,"featured_media":48409,"comment_status":"open","ping_status":"open","sticky":false,"template":"","format":"standard","meta":{"footnotes":""},"categories":[1],"tags":[],"class_list":["post-48407","post","type-post","status-publish","format-standard","has-post-thumbnail","hentry","category-feeds"],"yoast_head":"\n\n
The Money Is Going to\u2026<\/h2>\n
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