U.S. crypto funds are still experiencing significant outflows of money, marking the ninth day in a row. Just before trading began on May 29th, BlackRock, a major investment firm, moved $180 million worth of Bitcoin (2,448 BTC) to Coinbase Prime, as reported by Arkham.
By the end of the month, it became apparent that large investors were selling off their ETF holdings due to the Federal Reserve’s policies and high U.S. Treasury yields reaching 5.20%. Surprisingly, this extended period of selling revealed a significant shift: Bitcoin’s price swings have become as stable as those of traditionally safe assets like gold.
How Bitcoin vaults toward gold status for Wall Street
Recent Bloomberg data shows that the Bitcoin fund IBIT has become less volatile, with its price swings over the past 60 days dropping to 34.177%. Meanwhile, the price of gold, as measured by the GLD ETF, has become *more* volatile, rising to 27.227% due to global political uncertainty. This has caused the difference in price fluctuation between Bitcoin and gold to shrink to an all-time low of only 7%.
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According to Bloomberg ETF analyst Eric Balchunas, a single key factor will decide if cryptocurrency lasts in the long run, but the media isn’t paying attention to it.
According to leading experts in the ETF world, investors aren’t seeking the same high-growth returns from Bitcoin as they do from tech stocks. They already get that through investments like QQQ, which tracks the Nasdaq. Instead, they’re viewing Bitcoin as a way to diversify their portfolios, similar to how they use gold – as a safe and efficient asset to balance risk.
For years, unpredictable market swings kept cautious investment funds from entering the market, but recent data suggests this is changing. Concerns about investors pulling money out are now less important, as IBIT is proving remarkably stable, even exceeding the performance of typical stocks since the start of the 2026 Middle East conflict.
Data from SoSoValue on May 29th shows that U.S. spot Bitcoin ETFs collectively hold $94.25 billion in assets, representing 6.45% of all Bitcoin in circulation. BlackRock’s IBIT fund holds the largest share, with $58.11 billion under management.
Even though there have been nine consecutive days of money leaving the market, overall investments since the market began total $55.79 billion. This means most large investors are still seeing a profit.
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2026-05-29 17:14