$GLD

Bloomberg's Eric Balchunas stated Bitcoin ETFs will eventually 'triple gold in assets', citing demographic trends and institutional adoption. Earlier, he acknowledged Bitcoin ETFs have 'burned cash' by a common definition. Over the past year, iShares Bitcoin Trust (IBIT) fell 34.44%, while SPDR Gold Trust (GLD) rose 17.67%. Balchunas maintains his long-term forecast despite recent underperformance.

Investors withdrew $603M from SPDR Gold Shares (GLD) this week, but most funds flowed into cheaper gold ETFs like GLDM, IAU, and IAUM. Gold ETFs saw record inflows in August, with global holdings reaching 4,189 tonnes. GLD's expense ratio is 0.40%, while others charge less. Gold is trading at $4,347/oz, up from $4,294.

The Federal Reserve raised interest rates by 0.25% to 3.75%-4.00%, its first increase since 2023. The Fed expects rates to reach 4.1% by year-end 2026. Gold prices, tracked by SPDR Gold Shares (GLD), initially fell after the announcement. Equities and Bitcoin showed mixed reactions.

Gold and silver futures declined slightly on Tuesday ahead of the Federal Reserve's expected rate hike to 3.75%-4.0%. The Fed signaled further tightening, impacting precious metals. According to market expectations, a quarter-point increase is anticipated. This decision may influence investor sentiment and trading strategies in the commodities market.

Investors are positioning differently in gold and Bitcoin options, with gold traders favoring calls and Bitcoin traders pairing bullish bets with puts. On Sept. 18, GLD has $75.8B in options expiring, with a 5:1 call-to-put ratio, while IBIT has $5.8B expiring, with a 4:3 ratio. Gold's bullish sentiment is supported by central bank demand, while Bitcoin traders hedge due to macroeconomic uncertainty and recent price volatility.

Bitcoin and gold are seen as hedges against currency debasement, but options market strategies differ. Gold traders favor bullish calls with little downside protection, while Bitcoin traders hedge more. Gold's options tilt is persistent, with central banks buying. Key expiry dates are Sept. 18 for both assets, with $75.8B for gold ETF and $5.8B for Bitcoin fund.

Asset managers at Future Proof discuss ETF strategies ahead of a potential Fed rate hike. State Street's Mark Alberici and F/m Investments' Alex Morris highlight short-duration and fixed-income ETFs, citing products like BILS, SPTU, TBIL, and RBIL. State Street also notes its equity and alternative ETFs, including SPYM, DIA, QNDX, GLD, and ALLW. Milliman's Adam Schenck emphasizes healthcare ETFs, such as MHIG and MHIP, as safe havens.

SPDR Gold Shares (GLD) closed at $406.77 on September 4 and has since declined, tracking spot gold's fall to $4,365.50. The drop followed higher-than-expected producer price data, increasing Fed rate hike expectations. GLD manages $149.09B in assets, holding 32.31M ounces of gold. Recent redemptions reduced holdings by 1.32M ounces in Q2 2026, with net outflows continuing.

Saudi Arabia's oil production fell 23% in August, pushing Brent crude above $100/barrel. U.S. PPI rose 5.4% YoY, with energy prices up 4.2%. Fed rate hike odds increased to 71%. Defensive ETFs like XLE, TIP, SGOV, XLP, and GLD are highlighted for investors.

U.S. producer prices rose 5.4% year-over-year in August, exceeding expectations and accelerating from July, according to Labor Department data. The increase was driven by energy costs, particularly diesel fuel. Fed futures now price a 66% chance of a rate hike at the next meeting. Gold, tracked by SPDR Gold Shares (GLD), fell 1.1% to $4,340 an ounce.