Why Do Women Tend to Bet on Gold and Men on Bitcoin?

In virtually every culture and part of the world, a consistent pattern can be observed: men tend to take more risks, while women are, on average, more cautious. This is not just opinion, but rather a reflection of evolutionary conditioning.

In primitive times, men took on the role of hunters, often exposed to improvised, high-risk decisions in dangerous situations. Women, on the other hand, frequently responsible for protecting children in vulnerable environments, developed strategies of preservation, safety, and prudence. This evolutionary legacy still echoes today, showing up in financial and strategic decision-making.

It is no coincidence that many companies led by women demonstrate consistency and steady growth, a trait that might surprise some, but which in reality stems from this maturity in decision-making.

Bitcoin: Adrenaline and Volatility

Bitcoin is the very picture of instability: fast moves, tension, ups and downs, euphoric peaks followed by steep drops. This does not mean the asset lacks quality, but rather that its volatile nature requires emotional tolerance and a high appetite for risk.

This roller-coaster profile tends to attract men more, who historically show greater affinity for risky decisions. It is as if Bitcoin mirrors male impulsivity: moments of intense activation, rapid spikes in growth, followed by equally intense falls.

Gold: Consistency and Prudence

Gold, on the other hand, is more stable and continuous. It also fluctuates, but within less extreme limits. It is seen as a store of value, tested over centuries. This characteristic resonates more with the average female approach: seeking something reliable, proven over time.

While many men are swept up by the excitement of a sudden Bitcoin rally — like an intense short-term romance, women, on average, value long-term solidity, avoiding relationships with high risks of a “sudden breakup,” as often happens in crypto crashes.

A Clear Preference Trend

If we placed a large group of men and women before the choice between gold and Bitcoin, the distribution would hardly be in doubt: most women would lean toward gold, while most men would choose Bitcoin.

This reality can already be seen in practice. In both the U.S. and Brazil, investors have access to ETFs that allow them to buy gold or Bitcoin in a fractional and accessible way. There is no need to purchase a full bar of gold or an entire Bitcoin: one can simply buy shares, which democratizes access and reinforces this difference between genders.

How to Invest in Gold?

It is certainly possible to invest in gold-linked funds, profiting when the price rises and selling later. But both in Brazil and the United States, there is a simpler way to do this.

Instead of buying physical gold, investors can purchase representative shares of the asset. These shares are tied to the performance of the metal, ensuring that even indirectly you take part in the price movements.

This investment vehicle is called an ETF.

What is an ETF?

ETF stands for Exchange Traded Fund.

• It is like an “investment box” that holds a collection of assets (stocks, gold, dollars, bonds, etc.).

• You buy a share of this box on the stock exchange, just like you would a stock.

Easy example: Imagine you want to invest in gold but do not want to buy a whole bar. You can simply buy a gold ETF (such as GOLD11 on the B3 exchange in Brazil), which represents a fraction of the gold held in a fund. This way, with a small amount of money, you can participate in the metal’s appreciation.

Gold ETFs in the U.S.

Physical Gold ETFs (direct exposure to the metal)

• SPDR Gold Shares (GLD): largest and most liquid gold ETF worldwide; fee ~0.40% p.a.

• iShares Gold Trust (IAU): tracks spot gold closely; fee ~0.25% p.a.

• Goldman Sachs Physical Gold ETF (AAAU): launched in 2018; fee ~0.18% p.a.

• SPDR Gold MiniShares Trust (GLDM): low-cost version of GLD; fee ~0.10% p.a.

• iShares Gold Trust Micro (IAUM): even more accessible; fee ~0.09% p.a.

Gold Miners ETFs (indirect exposure via stocks)

• iShares MSCI Global Gold Miners ETF (RING): includes major global mining companies; ~45.5% return in 2025.

• VanEck Junior Gold Miners ETF (GDXJ): focuses on smaller mining companies; ~45.7% return in 2025.

• Other ETFs like GDX and GBUG also stand out during gold mining booms.

Gold ETFs Available on the B3 (Brazilian Stock Exchange)

1. GOLD11 – Trend ETF LBMA Gold

• What it is: The first gold ETF listed in Brazil, launched by XP Asset. Tracks the LBMA Gold Price, with exposure to gold in U.S. dollars via iShares Gold Trust (IAU).

• Features:

  • Management fee: ~0.30% per year.

  • High liquidity and simple trading.

2. GLDX11

• What it is: ETF listed on B3 that replicates the VanEck Merk Gold Trust (OUNZ), a U.S. gold-backed fund.

• Highlights:

  • Transparency and credibility from replicating a globally recognized ETF.

  • Considered a “safe haven” during market volatility.

3. AURO11

• What it is: Launched in 2025 by Buena Vista Capital, this is a physical gold ETF with a covered call strategy, generating monthly income.

• Highlights:

  • Estimated monthly payouts of 1%–1.2% of the share value.

  • Management fee: 0.98% per year.

  • Combines gold exposure with recurring income generation.

I pay special attention to AURO11, which was just launched this week. Its major difference compared to traditional gold ETFs is that, instead of waiting years to realize a profit only when selling shares, it provides shareholders with a kind of “dividends.”

To simplify: the fund converts part of gold’s price growth into cash and distributes it monthly to investors. If there’s interest, I can prepare a dedicated post to explain this mechanism in more detail.

In summary, investing in gold through ETFs is a practical, accessible, and diversified way to gain exposure to the metal, without dealing with the logistics of buying, storing, and safeguarding physical bars.

Run for the Hills?

When we observe the behavioral patterns of men and women in the world of investing, it becomes clear that both prudence and boldness have their value. Gold symbolizes security and continuity, while Bitcoin represents dynamism and calculated risk. The best-prepared investor is not the one who chooses only one path, but the one who can integrate these two poles into their strategy.

We live in a time when even the dollar and other currencies, once considered untouchable, are now surrounded by uncertainty. Gold thus emerges as the “mother of all the desperate”: a universal refuge when chaos threatens to swallow everything. Bitcoin, despite its potential, has not yet reached that level of trust, remaining an asset of bold speculation. Amid the political war between the U.S. government and its own central bank, combined with Trump’s impulsive moves that create unpredictability even for his closest partners, perhaps it is gold, and no other asset, that serves as the maternal embrace to rescue investors in moments of deepest despair.