Retail investors appear to be rotating out of gold and Bitcoin into semiconductor stocks:
Since April, US gold and Bitcoin ETFs have posted -$12 billion in cumulative outflows.
Over the same period, US semiconductor ETFs have attracted +$20 billion in cumulative inflows.
This trend accelerated in mid-May, with outflows from gold and Bitcoin funds more than tripling.
At the same time, inflows into semiconductor ETFs have doubled.
Meanwhile, the largest US gold-backed ETF, $GLD, is down -13% since the start of April, while the largest Bitcoin ETF, $IBIT, is down -12%.
Over the same period, the semiconductor ETFs, $SOXX and $SMH, are up +81% and +60%, respectively.
Retail is driving markets like never before.
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- CecilFranklin·06-29 15:1320B into semis vs 12B out of gold/BTC is kinda nuts lol. I’m not fading the chip bid yet — does this get too crowded by summer?LikeReport