A mass move away from the US dollar is underway, according to the head of product at VanEck.
At Schwab IMPACT 2025, Ed Lopez cited “geopolitical wake-up calls” on the dollar as the trigger that’s sending capital to other sectors of the market, reports InvestmentNews.
“You saw what [the US] could do in terms of blocking out certain countries from the SWIFT system…
I think that led countries to wake up and think maybe we need to have our reserves diversified.”
Lopez says the realization has pushed central banks to buy gold.
Broadly speaking, he says institutional investors have also recognized a dollar debasement trend has arrived, driving them to pour cash into precious metals, emerging markets and the top crypto asset Bitcoin.
Lopez believes US dollar flight is also setting up investment opportunities in bonds, especially in emerging markets.
“[These] countries have better fundamentals… lower deficits and central banks that are making the right logical decisions.”

