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Gold & Bitcoin ETP Flows

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In plain English

This compares gold ETFs and bitcoin ETFs as two ways people buy scarce assets through a brokerage. Lines are “if you had put $100 into each.”

The flow pane is the running total of money going into (or out of) GLD-style gold products and spot bitcoin ETFs. They can diverge: gold inflows with bitcoin outflows is a different tape than both flooding in together.

Math and metrics

Indexed total returns from Yahoo. GLD flows from SPDR published creations. BTC ETF cumulative from TFTC. Rebased to 100 at the overlap start.

index_t = 100 · P_t / P_0. flow_cum_t = Σ net USD creations.