Woofun AI reports that Bloomberg ETF analyst Eric Balchunas identifies parallels between Bitcoin ETFs and gold ETFs over the past 22 years. Both asset classes are packaged products centered around "non-yielding assets" lacking dividends, interest payments, or government backing, with prices primarily driven by investor sentiment. The report notes that the leading gold ETF, GLD, once ranked among the world's largest ETFs before experiencing approximately eight years of stagnation, though each cycle's peak has gradually risen. Balchunas posits that Bitcoin ETFs may undergo a repetitive cycle of "rapid ascent—sharp pullback—prolonged recovery," with peaks incrementally increasing over time.