Does anyone still think that Bitcoin is a tulip bubble?

On November 21, the net assets of the Bitcoin (BTC) exchange-traded fund (ETF) in the United States broke through $100 billion for the first time.

Since the launch of the spot BTC ETF in January, Bitcoin has dominated the ETF market. After the election of pro-cryptocurrency president Donald Trump on November 5, investor interest has further heated up.

The surge in the net assets of the BTC ETF in November reflects that "people are more optimistic about Bitcoin's future prospects after Trump's election victory, boosting Bitcoin's performance and bringing in over $5 billion in capital inflow."

Overall, the total assets currently managed by the BTC ETF amount to approximately $104 billion. According to Bitcoin Archive, the net assets of the BTC ETF are expected to surpass those of the gold ETF, which, as of November 21, had an asset management scale (AUM) of approximately $120 billion.

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