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Eric Balchunas, senior ETF analyst at Bloomberg Intelligence, observes a parallel between the rapid popularity of GLD and IBIT. GLD once surpassed SPY as the largest ETF in the world for a single day in 2011 before losing favor for several years. Similarly, IBIT recently attained $100 billion in assets for just one day, echoing GLD's fleeting dominance.
Balchunas has covered significant ETF milestones in recent months. He reported when Invesco's 27-year control over the Nasdaq index ended. Earlier, he questioned Jeremy Grantham's record after Grantham expressed skepticism about bitcoin. These reports add context to his observations on high-profile fund flows.