Bloomberg ETF analyst Eric Balchunas said on X that GLD and IBIT, which he described as store-of-value assets, have moved back into the 10 most actively traded ETFs. The shift comes after semiconductor ETFs dominated the leaderboard through the summer, with some of those funds now falling in the rankings. Balchunas said the change points again to a debasement trade starting to replace the AI-driven frenzy in market attention and trading activity. He added that semiconductor ETFs are still trading above what their asset size would normally suggest, though that gap is no longer as pronounced as it was earlier. The update highlights a change in ETF trading leadership rather than a full collapse in semiconductor activity, with store-of-value products regaining visibility among the market’s busiest funds.
Bloomberg ETF analyst Eric Balchunas said in a post on X that GLD and IBIT, which he described as store-of-value assets, have returned to the list of the 10 most actively traded ETFs.
According to Balchunas, some semiconductor ETFs have slipped in the rankings after that group spent the summer dominating the leaderboard. He said the move is another sign that a debasement trade is starting to replace the AI frenzy.
Balchunas added that semiconductor ETFs are still trading above what their size would suggest, but not by as much as before.
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