'Siste Spot Bitcoin ETF Approval Means 'BTC Replacing Gold' Trend Continues

Bitcoin is replacing gold, and the emergence of spot bitcoin exchange-traded funds (ETFs) is evidence that the trend is continuing, said Cathie Wood, CEO of ARK Invest, an asset investment management firm, on 7 February. The potential impact of the first spot bitcoin ETF is similar to that of the first gold ETF, with data showing that since the first gold ETF was launched in November 2004, the price of spot gold has soared by more than 250 per cent in seven years.