Year-to-date financial flows in 2025 have seen significant movements, with cash inflows reaching $1 trillion, marking the third highest ever. Global stocks have attracted $634 billion, also the third highest on record, while investment-grade bonds saw $381 billion, the second highest ever. U.S. stocks and Treasuries both recorded their third highest inflows at $294 billion and $141 billion, respectively. Gold has experienced a record-breaking year with $85 billion in inflows, highlighting its appeal as a safe haven. Emerging market debt attracted $63 billion, the second highest ever. Meanwhile, Bitcoin's pricing against M2 money supply is under scrutiny, as it may define its future role as either a risk asset or a store of value.