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. Gold Price: (Source: Will Clemente)

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