State Street-managed SPDR Gold Shares (GLD) has overtaken the SPDR S&P 500 ETF (SPY) as investors pumped money into gold and out of equities, The Wall Street Journal reports. With $76.7 billion in assets as of August 19, GLD became the biggest ETF globally. SPY’s assets stood at $74.4 billion.

GLD saw $1.5 billion in inflows this month, while SPY witnessed more than $7 billion in outflows, adds Index Universe. At the end of July, SPY’s assets totaled more than $93 billion, while GLD had just over $66 billion.

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