According to PANews, Bloomberg ETF senior analyst Eric Balchunas stated that Bitcoin ETFs may experience two major catalysts by the end of this year as they become available to more investors on more platforms. The first catalyst is the potential listing of Bitcoin ETFs on large brokerage platforms in the coming months. These platforms manage approximately $7 trillion to $10 trillion in assets. The second catalyst is the introduction of Bitcoin ETF options trading, which Balchunas predicts will be listed in September. Analysts suggest that in addition to options, banks may introduce ETF structured products. Subsequently, options strategies such as long Bitcoin/short gold may also emerge.

According to CoinDesk, Peter Schiff, a prominent stockbroker and gold investor, has expressed regret for not investing in bitcoin when it was trading at a few dollars in 2010. Despite his long-standing criticism of the cryptocurrency and comparing it to 'tulip mania 2.0,' Schiff said he would have invested solely for the potential profit, likening it to a gamble rather than a 'genius' move.

Schiff had predicted bitcoin’s decline in a 2014 interview with CoinDesk and likened it to 'tulip mania 2.0' in a 2013 CNBC interview. He hasn't changed his stance since, but wouldn’t have shied away from investing given the potential for profit. Bitcoin has surged over 200% in the past year on multiple catalysts, such as growth in underlying technology and demand from spot exchange-traded funds (ETFs) offered in the U.S. Gold has risen 13% over the past year, data shows, with an estimated market capitalization of $14 trillion.

'I would have bought it just betting on other people being dumb enough to buy it and pay a higher price,' Schiff said, likening a successful bitcoin investment to a gamble rather than a 'genius' move.