The price of gold has shot up nearly 45% since February 2024 to $2,927.10 per ounce according to gold.org, but Bloomberg exchange-traded fund (ETF) Analyst Eric Balchunas says “No one cares,” in a post on X. Indeed, gold ETFs have virtually stalled within that same timeframe, while spot bitcoin ETFs have amassed more than $40 billion in net inflows and over $110 billion in total assets, according to data from sosovalue.com. Conversely, gold ETFs have seen North American net inflows trickle to a paltry 2.17 tons or $203 million over the past 12 months, according to data from Macro Micro. “Gold has been on fire, a near record start to [the] year and up 45% in [the] past 12 months,” Balchunas said. “Yet no one cares. Virtually no flows coming in. Most likely theory is that bitcoin ETFs have stolen all their thunder (and dollars),” he added.