Title: Bitcoin ETFs Smash Gold ETF Launch Performance, Surpassing $3 Billion in Net Flows

Bitcoin exchange-traded funds (ETFs) in the United States have surged past the historical performance of gold ETFs at their launch, with net flows reaching an impressive $3 billion within just one month of their introduction. This milestone, excluding Grayscale's fund which has experienced outflows as long-term investors exit, highlights the increasing demand for cryptocurrency investment options.

According to data from BitMEX Research, excluding Grayscale, inflows into Bitcoin spot ETFs are quickly closing in on the $10 billion mark. As of late Monday, the total inflows across these ETFs surpassed $9.6 billion. Bloomberg ETF analyst Eric Balchunas stated in a Twitter post that it took the well-known GLD ETF nearly two years to attract the same amount of capital as Bitcoin ETFs have garnered in just 32 days.

SPDR Gold Shares, also known as GLD, outperformed expectations after going live on the NYSE on November 18, 2004. Within three days of trading, GLD surpassed $1 billion in assets. However, its growth then slowed down, with total known ETF holdings of gold remaining just shy of ten million ounces for about a year.

While GLD is credited with kick-starting a multi-year bull market for gold, taking its price per ounce from $400 at launch to $1,800 by 2011 (current spot price around $2,000), Bitcoin's price has already hit a new two-year high above $50,000 since the introduction of its own ETFs.

Notably, nearly half of the net inflows into Bitcoin ETFs have occurred within the past three days alone, totaling approximately $450 million per day. In fact, Monday recorded $493 million worth of flows, marking the third-strongest inflow day since the launch of Bitcoin ETFs.

This recent surge can be attributed in part to the slowing outflows from the Grayscale Bitcoin Trust (GBTC). As the world's largest Bitcoin fund, many investors have been selling their GBTC shares to close a long-term arbitrage trade following Grayscale's conversion into an ETF. Moreover, investors have also been shifting towards the newer, more cost-effective ETFs offered by prominent financial institutions like BlackRock and Fidelity.

While Bitcoin ETFs have already accumulated over $30 billion in assets, holding close to 690,000 BTC, they still trail behind gold as an ETF commodity. Gold remains the leader in this regard, with $90 billion in assets, including $54 billion within GLD alone, according to VettaFi.

The strong performance and rapid inflow of capital into Bitcoin ETFs demonstrate the growing interest and acceptance of cryptocurrencies as an investment asset. As Bitcoin continues to gain mainstream recognition, the competition among ETF providers is expected to intensify, providing investors with more options to participate in the digital asset market.