According to CoinDesk, there is a significant amount of unpent demand for bitcoin that cannot access the cryptocurrency without regulatory approval, such as the U.S. Securities and Exchange Commission (SEC) approving a spot exchange-traded fund, according to Paul Brody, EY's global blockchain lead. In an interview with CNBC, Brody discussed the possibility of an ARK-like surge of retail money into new ETFs that could quickly be withdrawn in the event of a price reversal.

Brody acknowledged this possibility but emphasized that bitcoin is an asset that cannot be produced in greater quantities when prices increase, unlike gold, which is a competing store of value. He explained that as gold prices rise, miners increase production, whereas the issuance rate of bitcoin is fixed. Brody suggested that bitcoin pricing might be more inelastic than other types of assets.