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ETF vs traditional gold ETF — funds competition/cooperation
Bitcoin/crypto ETFs and gold ETFs compete for risk-hedge allocations, but they also coexist: some allocators split exposure (gold for real-yield hedge, BTC for asymmetric upside). Cross-asset flows depend on macro drivers (real yields, dollar). In stress, both can attract capital; in risk-on, BTC outperforms. Watch relative flows to read investor preference.
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