Bloomberg Senior ETF Analyst Eric Balchunas on Friday said Bitcoin (CRYPTO: BTC) ETFs are likely following gold ETFs' 22-year playbook of explosive gains, painful drawdowns, and recoveries that test investor patience.
Why Balchunas Is Drawing The Gold ETF Parallel Balchunas built his comparison around one shared structural trait.
Both Bitcoin and gold ETFs are wrappers around non-yielding assets that generate no cash flow, meaning investor sentiment drives performance rather than earnings, coupons, or government backing.
That makes demand fickle, arriving in waves rather than building steadily, and capable of producing both price explosions and prolonged stagnation.
BlackRock's IBIT (NASDAQ:IBIT) currently manages roughly $60 billion in assets, well below the $100 billion it briefly touched in October when Bitcoin hit its all-time high.
