Comparing history of GLD to potential spot Bitcoin ETF Quick Take
- According to the World Gold Council, SPDR Gold Shares (GLD) is the largest physically backed gold exchange-traded fund (ETF).
- This ETF launched back in 2004 when the price of gold was priced at roughly $410.
- This ETF allowed exposure for investors at a relatively easy level.
- Will Clemente, Co-Founder at Reflexivity Research, showed (in the chart below) the enormous gains of the ETF in the eight years after the ETF was launched.
- Will Bitcoin follow a similar price appreciation if the ETF from BlackRock gets approved?
- The Gold ETF was launched before the 2008 recession, and BlackRocks’ ETF could also get approved during a recession.
Analyst 
James Van Straten
James fervently appreciates data, technology, and trend-spotting. As a tech and liberty maximalist, he hails Bitcoin as the 21st century's paramount invention.
In this insight
Bitcoin, a decentralized currency that defies the sway of central banks or administrators, transacts electronically, circumventing intermediaries via a peer-to-peer network.
Will Clemente is the co-founder of Reflexivity Research, a digital asset research & proprietary trading firm.