The price of gold has risen nearly 29% this year and broke solidly at 3.8% gain in Bitcoin (BTC). Still, it couldn’t deter investors who are eager to add the biggest cryptocurrency to their portfolios.

Blackrock’s Spot Bitcoin ETF (Ibit) has attracted a net $ 6.96 billion in influx since the beginning of the year, the sixth largest amount of all stockplaced funds, according to Bloomberg’s senior ETF analyst, Eric Balchunas. SPDR GOLD TRUST (GLD), the world’s largest physically hilly Gold ETF, slipped to number seven position Monday with net flow of $ 6.5 billion.

Ibits better final indicates the institutions’ sustained confidence in Bitcoin’s long -term prospects despite the relatively gentle price performance. Gold has risen $ 3,384, largely due to cramps over international trade, renewed inflation -concerned concerns and geopolitical tensions. While BTC, called by some as digital gold, hit a record high in January, it is now more than 10% below this level.

“Taking more cash in this scenario is really good sign of long term and inspires the confidence in our call that BTC ETFs will have triple Golds Aum for 3-5 years,” Balchunas said at X.