Bloomberg Intelligence's Eric Balchunas says Bitcoin ETFs could triple gold ETF AUM in 3-5 years, drawing lessons from gold's volatile 22-year ETF history.

Bloomberg ETF analyst Eric Balchunas compared IBIT’s short time above $100 billion with GLD’s precipitous rise in 2011.

Bitcoin ETFs may be following gold’s boom-bust cycle, with IBIT’s pullback signaling a long recovery before the next record high.