Gold ETFs attracted massive capital inflows in 2025
The year 2025 was marked by a massive inflow of capital into ETFs backed by physical gold reserves.
According to Happy Coin News, last year set a record for investment volumes in XAU-based ETFs, reaching $89 billion. This figure is more than 22 times higher than the level recorded in 2024. Driven by strong demand for derivatives, total capitalization doubled to $559 billion, while the amount of precious metal held by fund issuers increased to 4,025 tonnes.

Capital inflows into gold ETFs
The chart shows that North America saw the highest demand for XAU-based fund shares. Asia ranked second by this metric, followed by Europe, where capital outflows from ETFs were periodically recorded. The main driver of investment growth in North America was the United States. This is attributed to a weakening dollar, economic disruptions caused by trade wars, and rising geopolitical tensions.
ETFs linked to digital gold — as Bitcoin is sometimes called — proved to be far less popular. In 2025, cryptocurrency funds attracted four times less capital, totaling $21.4 billion. Moreover, this figure was 43% lower than the $35.2 billion recorded in 2024. This negative trend resulted from the decline in the price of the digital asset that began in October, leading to capital outflows from BTC ETFs.
See also: "Baby Doge Coin surpassed BTC, ETH, and XRP to become the largest cryptocurrency on CoinMarketCap"
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