VanEck's product head Ed Lopez has identified a significant sell-off of the U.S. dollar, driven by geopolitical tensions, as a catalyst for capital movement into gold, emerging markets, and Bitcoin. Speaking at the Schwab IMPACT 2025 conference, Lopez noted that the exclusion of certain countries from the SWIFT system has led central banks to diversify their reserves, increasing gold purchases. Institutional investors are also reallocating funds to these asset classes in anticipation of a weakening dollar. Lopez emphasized that this dollar exodus is creating investment opportunities, particularly in bonds within emerging markets, where economic fundamentals are robust and central banks are making prudent decisions. This shift reflects a broader trend of seeking stability and growth potential outside traditional U.S. dollar assets.