{"id":110484,"date":"2026-06-28T08:05:40","date_gmt":"2026-06-28T08:05:40","guid":{"rendered":"https:\/\/dogewisperer.com\/?p=110484"},"modified":"2026-06-28T08:05:40","modified_gmt":"2026-06-28T08:05:40","slug":"bitcoin-and-gold-are-bleeding-so-where-is-the-money-going","status":"publish","type":"post","link":"https:\/\/dogewisperer.com\/?p=110484","title":{"rendered":"Bitcoin and Gold Are Bleeding \u2013 So Where Is the Money Going?"},"content":{"rendered":"
\n

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

Out of Gold and Bitcoin<\/h2>\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However, the trend changed once again in May with $2.43 billion withdrawn, while June is on track to set a negative record for the highest net outflows, currently sitting at just over $4 billion.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

\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

The Money Is Going to\u2026<\/h2>\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

\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