Retail funds flow from gold and Bitcoin ETFs to semiconductor stock ETFs

The Kobeissi Letter states that since April, US gold ETFs and Bitcoin ETFs have accumulated a net outflow of $12 billion, while US semiconductor ETFs have attracted a cumulative inflow of $20 billion during the same period. In mid May, the outflow of gold and Bitcoin funds more than doubled, and the inflow of semiconductor ETF funds doubled. The largest gold ETF in the United States, GLD, has fallen 13% since early April, the largest Bitcoin ETF, IBIT, has fallen 12% during the same period, and semiconductor ETFs, SOXX and SMH, have risen 81% and 60% respectively.