Bloomberg ETF analyst: Bitcoin spot ETFs may repeat the highlight and correction cycles seen with gold ETFs

ChainCatcher news: Bloomberg ETF analyst Eric Balchunas pointed out in his latest report that the trajectory of gold ETFs over the past 22 years may provide an important reference for Bitcoin ETFs. Both gold and Bitcoin ETFs are packaged products around "non-yielding assets," lacking dividends, interest, or government backing, with prices mainly driven by investor sentiment.

The report stated that the leading gold ETF, GLD, once became the world's largest ETF, then went through about eight years of prolonged consolidation, but the peak of each cycle was higher than the last. Balchunas believes that Bitcoin ETFs may also experience repeated cycles of "rapid climb—sharp pullback—long recovery," with peak values gradually rising with each cycle.