- Gold and Bitcoin (BTC) ETFs have reentered the top ranks by trading volume, signaling a shift in investment themes.
- Trading in SPDR Gold Shares (GLD) and the iShares Bitcoin Trust (IBIT) surged, while semiconductor-related ETFs accounted for a smaller share of trading.
- Eric Balchunas said the trend may signal that the debasement trade is emerging as the market's new leading theme, replacing the AI boom.
Gold, Bitcoin ETF Volumes Surge as Debasement Trade Overtakes AI Craze
Gold and Bitcoin exchange-traded funds have moved back into the top ranks by trading volume, signaling that market themes may be shifting from artificial intelligence to bets on currency debasement.
bloomingbit
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Aug 25, 2026 at 8:24 PM UTC · 1 Min. Lesezeit

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Gold and Bitcoin exchange-traded funds have moved back into the top ranks by trading volume, signaling that market themes may be shifting from artificial intelligence to bets on currency debasement.
Eric Balchunas, a Bloomberg ETF analyst, highlighted on Aug. 25 that gold and Bitcoin ETFs had reentered the top 10 ETFs by trading volume.
Trading in SPDR Gold Shares (GLD), a spot gold ETF, and BlackRock's spot Bitcoin ETF, the iShares Bitcoin Trust (IBIT), has surged recently. By contrast, semiconductor-focused ETFs that had led the market earlier accounted for a smaller share of trading.
The shift may signal that the debasement trade — positioning for a decline in the value of fiat currencies such as the US dollar — is emerging as the market's new leading theme, replacing the AI investment boom.
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Originally reported by bloomingbit
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