Bitcoin and Gold ETFs Surge in Trading Volume as Debasement Trade Accelerates

The debasement trade, focusing on sound money and hard assets, is demonstrating remarkable strength. Bitcoin (BTC) approaches its all-time high of $124,000, currently valued above $120,000. Simultaneously, gold has surged nearly 50% year-to-date, consistently achieving new record levels and trading just under $3,900. ETF flows underscore the growing momentum behind this strategy. Both BlackRock's iShares Bitcoin Trust (IBIT) and the SPDR Gold ETF (GLD) ranked among Thursday's top 10 most traded ETFs—an unusual development noted by Bloomberg Senior ETF analyst Eric Balchunas. GLD recorded $4.88 billion in trading volume, securing the fourth position, while IBIT placed seventh with $3.21 billion. The SPDR S&P 500 ETF (SPY) led with over $26 billion in volume. "Everyone wants in on the debaser trade I guess," Balchunas remarked. Comedian and sound money proponent Dominic Frisby exclusively told CoinDesk that bitcoin and gold share a critical characteristic: they remain beyond government printing authority. Frisby stated: "Bitcoin's within a couple of percent of all-time highs. Gold's at all-time highs. Silver's approaching all-time highs. This pattern suggests declining confidence in fiat currencies. While nothing endures indefinitely, monetary assets resistant to government debasement are currently thriving." Silver has rallied alongside gold, trading below $48—its third-highest level after 2011 and 1980 peaks. Historically, silver's peaks have aligned with gold's, suggesting potential parallel movements. If silver concludes its parabolic advance, gold might follow, potentially creating additional upside momentum for bitcoin.