在2025年第四季度,机构投资者在黄金ETF上出现分歧,因为收益率不断提高和美元走强,引发了大量的黄金抛售. In Q4 2025, institutional investors diverged on gold ETFs amid rising yields and a stronger dollar, triggering a major gold sell-off.

在2025年第四季度,维吉拉理财管理公司将其GLD股份减少了37.9%,而TruWealth Advisors则增加了IAU的72.8%,反映出不同的机构战略. In Q4 2025, Vigilare Wealth Management cut its GLD stake by 37.9%, while TruWealth Advisors boosted its IAU holdings by 72.8%, reflecting divergent institutional strategies. 两家ETF都面临着美国国债收益率上升,美元走强以及美联储降低利率预期的压力, 这导致黄金出现了多年来最大的一周下跌和技术故障. Both ETFs faced pressure from rising U.S. Treasury yields, a stronger dollar, and reduced Fed rate cut expectations, contributing to gold’s largest weekly drop in years and technical breakdowns. 尽管短期波动,印度的长期需求,世界黄金理事会的代币化努力以及美国拟议的藏立法支持以黄金为后盾的资产. Despite short-term volatility, long-term demand from India, tokenization efforts by the World Gold Council, and proposed U.S. vault legislation support gold-backed assets. 尽管宏观经济不利因素持续存在,但GLD和IAU仍然是黄金市场的关键工具,其市值为157.13亿美元,而IAU则为71.520亿美元. GLD and IAU remain key vehicles for gold exposure, with GLD at $157.13B market cap and IAU at $71.52B, though macroeconomic headwinds persist.