ETF analyst James Seyffart predicts spot Bitcoin ETFs may eclipse gold ETFs in assets under management, citing Bitcoin’s broader range of perceived uses. This comes as U.S. Bitcoin ETFs attracted $1.32 billion in net inflows during March while gold ETFs saw $2.92 billion in outflows, despite both assets declining in price over the past month.
Bloomberg ETF analyst James Seyffart stated that spot Bitcoin exchange-traded funds could become larger than gold ETFs. He argued this is due to Bitcoin’s multiple perceived roles, including as digital gold, a store of value, and a growth risk asset.
Seyffart explained on the Coin Stories podcast that Bitcoin has “all these different ways” of being viewed, while gold has only “one of those things.” He described Bitcoin ETFs as potentially being “hot sauce in a portfolio” for investors seeking growth and liquidity trades.
Recent fund flow data supports a divergence in investor interest. U.S.-based gold ETFs recorded net outflows of $2.92 billion in March. Over the same period, U.S. spot Bitcoin ETFs attracted net inflows of $1.32 billion.
The largest U.S. gold ETF, GLD, recorded a $3 billion single-day outflow on March 4. This marked its largest daily withdrawal in more than two years.
Despite opposing ETF flows, both asset prices have fallen recently. Bitcoin was trading at approximately $66,918, down over 8% in 30 days according to CoinMarketCap data. Gold was trading near $4,676, also down over 8% for the same period according to GoldPrice.
In a prior observation from December 2025, Fidelity Digital Assets analyst Chris Kuiper noted gold and Bitcoin have historically taken turns outperforming. He suggested that after gold’s strong performance in 2025, Bitcoin could potentially take the lead.
