What an insane show of strength from Bitcoin! The ETF in the US will become true at some point in the future and people position for it. I looked at the first physical SPDR Gold ETF that was approved in Nov 2004 in the US. Gold did well in advance and consolidated after the ETF was launched. Later, Gold went through the roof in the years after. Not sure how much was due to the ETF, but the ETF AuMs increased to more than 50bn in the following years.