The latest introduction of Bitcoin Exchange Traded Funds (ETFs) that are tied directly to the current price of Bitcoin has led to a significant increase in investment activity. In the past two weeks, these Bitcoin ETFs have attracted more investment capital than gold ETFs. This development was noted by Matt Hougan, the Chief Investment Officer at Bitwise. In a recent message on platform X, Huogan observed that within the initial 2000 days of trading, Bitcoin Exchange Traded Funds (ETFs) pulled in $247 billion, while gold ETFs garnered a mere $0.003 billion in comparison. This pattern could indicate a change in what investors favor, with some seeing Bitcoin as a modern digital substitute for time-honored assets considered to be safe. Nevertheless, when taking inflation into account, the movements in gold still marginally exceed those of Bitcoin. It’s important to point out that Bitcoin ETFs were introduced at a time when gold had already secured its status as a widely accepted asset for preserving wealth throughout much of human history. In other news, the individuals responsible for the massive $200 million hack at FTX have been identified. Experts who reacted to Hougan’s analogy also point out that the number might have been greater. In the recent weeks following the introduction of spot Bitcoin Exchange-Traded Funds (ETFs), Grayscale Investment has been gradually selling off its holdings from the Grayscale Bitcoin Trust (GBTC), amounting to a sell-off of billions of dollars in Bitcoin. Concurrently, Grayscale Investment is in the process of transitioning the GBTC trust into an ETF format. Hence, the Chief Investment Officer points out that if GBTC is not taken into account, Bitcoin exchange-traded funds that deal directly in the cryptocurrency experienced a total net addition of $239 billion in the past two reporting intervals, which is a considerably higher amount than that for gold. Data from Lookonchain indicates that by February 1, GBTC had offloaded approximately 250,086 BTC, valued at more than $218 million. Simultaneously, eight different entities that issue Bitcoin acquired a total of 8,907 BTC, valued at upwards of $382 million. Within this total, Fidelity Investments purchased an impressive 393,422 BTC.