When the gold ETF was approved in 2004, inflows of institutional money generated an 8-year bull market.
However, it took more than 800 days for the gold ETF to reach what BlackRock's ETF #Bitcoin (in assets under management) achieved in just over 70 days.
What does this mean? Demand for bitcoin is much higher (than gold in 2004) and supply is much tighter.
This is just the beginning... Barring any surprises, we should have some great years ahead of us with plenty of fiddling along the way.
