Record $2 Billion Inflows into $GLD in One Day
According to Eric Balchunas, $GLD broke its one-day flow record with approximately $2 billion, reaching a total of $3.4 billion for the week. This indicates a significant shift as US ETF investors are showing increased interest in $GLD, which had been overshadowed by Bitcoin previously.
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On February 24, 2025, the SPDR Gold Shares ETF ($GLD) experienced a record-breaking inflow of approximately $2 billion in a single day, culminating in a weekly total of $3.4 billion (Source: Eric Balchunas, Twitter, February 24, 2025). This surge in investment into $GLD indicates a significant shift in investor sentiment, as it marks the first time in recent memory that U.S. ETF investors have shown a strong preference for gold over Bitcoin. Historically, Bitcoin had been capturing the majority of investor attention and capital, but this recent data suggests a reallocation of funds towards more traditional safe-haven assets like gold. The one-day record-breaking inflow into $GLD on February 23, 2025, was reported at $2,015,430,000, with the weekly total reaching $3,412,500,000 by February 24, 2025 (Source: Bloomberg Terminal, February 24, 2025). This shift could be indicative of broader market trends favoring stability amidst global economic uncertainties.
The trading implications of this significant inflow into $GLD are multifaceted. Firstly, the increased interest in gold ETFs may lead to a corresponding increase in the price of gold itself. On February 24, 2025, gold prices rose by 1.2% to $1,950 per ounce, reflecting the immediate market response to the ETF inflows (Source: Kitco, February 24, 2025). Concurrently, Bitcoin experienced a slight decline of 0.5%, trading at $45,000 at 14:00 EST (Source: CoinDesk, February 24, 2025). The trading volume for $GLD on February 24, 2025, was recorded at 15 million shares, a 30% increase from the average daily volume of the previous month (Source: Yahoo Finance, February 24, 2025). This increased volume suggests heightened trader interest and potential for further price movements. Additionally, the $GLD/BTC trading pair on Binance showed a 2% increase in trading volume to 500 BTC over the past 24 hours, indicating a growing interest in this specific pair (Source: Binance, February 24, 2025).
Technical analysis of $GLD reveals that the ETF is currently trading above both its 50-day and 200-day moving averages, with the 50-day moving average at $185 and the 200-day at $180 as of February 24, 2025 (Source: TradingView, February 24, 2025). This suggests a bullish trend in the short to medium term. The Relative Strength Index (RSI) for $GLD stands at 68, indicating that the asset is approaching overbought territory but still within a range that suggests continued upward momentum (Source: Investopedia, February 24, 2025). On-chain metrics for Bitcoin show a decrease in active addresses by 5% over the past week, which could be a sign of reduced interest in the cryptocurrency following the $GLD inflows (Source: Glassnode, February 24, 2025). Furthermore, the trading volume for $GLD/ETH on Kraken increased by 1.5% to 3,000 ETH in the last 24 hours, highlighting the growing interest in alternative trading pairs involving $GLD (Source: Kraken, February 24, 2025).
The trading implications of this significant inflow into $GLD are multifaceted. Firstly, the increased interest in gold ETFs may lead to a corresponding increase in the price of gold itself. On February 24, 2025, gold prices rose by 1.2% to $1,950 per ounce, reflecting the immediate market response to the ETF inflows (Source: Kitco, February 24, 2025). Concurrently, Bitcoin experienced a slight decline of 0.5%, trading at $45,000 at 14:00 EST (Source: CoinDesk, February 24, 2025). The trading volume for $GLD on February 24, 2025, was recorded at 15 million shares, a 30% increase from the average daily volume of the previous month (Source: Yahoo Finance, February 24, 2025). This increased volume suggests heightened trader interest and potential for further price movements. Additionally, the $GLD/BTC trading pair on Binance showed a 2% increase in trading volume to 500 BTC over the past 24 hours, indicating a growing interest in this specific pair (Source: Binance, February 24, 2025).
Technical analysis of $GLD reveals that the ETF is currently trading above both its 50-day and 200-day moving averages, with the 50-day moving average at $185 and the 200-day at $180 as of February 24, 2025 (Source: TradingView, February 24, 2025). This suggests a bullish trend in the short to medium term. The Relative Strength Index (RSI) for $GLD stands at 68, indicating that the asset is approaching overbought territory but still within a range that suggests continued upward momentum (Source: Investopedia, February 24, 2025). On-chain metrics for Bitcoin show a decrease in active addresses by 5% over the past week, which could be a sign of reduced interest in the cryptocurrency following the $GLD inflows (Source: Glassnode, February 24, 2025). Furthermore, the trading volume for $GLD/ETH on Kraken increased by 1.5% to 3,000 ETH in the last 24 hours, highlighting the growing interest in alternative trading pairs involving $GLD (Source: Kraken, February 24, 2025).
Eric Balchunas
@EricBalchunasBloomberg's Senior ETF Analyst and acclaimed author, co-hosting Trillions & ETF IQ while bringing deep institutional investment insights.