The first gold ETF in the world launched in 2003 and in the decade that followed, the asset burst onto the investment scene and shot up at price? Will Bitcoin follow this path?
Gold has become one of the world’s top assets, with most investors viewing it as one of the greatest stores of value. However, it wasn’t always like this. One of the major turning points for the precious metal was in 2003 when the first-ever gold ETF launched in Australia. In the decade that would follow, gold would burst onto the scene and cement its position as one of the world’s top assets. Will Bitcoin follow a similar path once an ETF in the U.S launches?
The first gold ETF was the Gold Bullion Securities which launched on March 28, 2003, on the Australian Stock Exchange. In the few years that would follow, the investment product would become quite popular, finally making its way to the U.S a year later. State Street, the second-oldest American bank, launched its own gold ETF in 2004. In just its first three trading days, it had surpassed $1 billion in assets. Since then, gold ETFs have become one of the most basic investment products.
Will the same happen with Bitcoin once the first ETF launches in the U.S market? Crypto influencer, YouTuber, and trader Lark Davis believes it will. He recently took to Twitter to tout the power that an ETF holds, predicting that Bitcoin will shoot into the mainstream scene upon …
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