Fidelity: ETP Flows Signal Investor Return to Bitcoin Over Gold

Jurrien Timmer, Director of Global Macro at Fidelity Investments, has highlighted a significant shift in investor sentiment toward digital assets, with ETP flows indicating a strong return to Bitcoin. According to Timmer’s analysis, market participants who exited their positions in late 2025 are now re-entering the space, signaling a recovery in institutional confidence. Complementing this trend, a new study by Mercado Bitcoin reveals that Bitcoin consistently outperforms gold following major global shocks and economic crises. While investors instinctively turn to gold as a defensive asset during the onset of a crisis, data shows a counterintuitive reality where Bitcoin achieves higher post-shock gains. This resurgence underscores Bitcoin's growing role within macro-investment portfolios as a high-performance alternative to traditional safe havens. The combination of institutional flow data and empirical performance studies suggests a fundamental shift in how digital assets are perceived during periods of global market volatility.