Recent data reveals a notable divergence worth attention: since the outbreak of the Iran conflict, the largest gold ETF (GLD) has experienced net redemptions of approximately 2.7% of assets under management, while BlackRock's IBIT recorded net inflows of approximately 1.5% during the same period (JPMorgan data). This indicates that some safe-haven capital is shifting from traditional gold to Bitcoin, with the "digital gold" narrative transitioning from concept to actual capital movement.