Bloomberg ETF analyst Eric Balchunas reported that year-to-date capital gaps are nearly closed, with recent single-day inflows reaching approximately $500 million. Among the 11 early Bitcoin spot ETFs, 10 have experienced capital inflows. Balchunas noted that since the geopolitical tensions following the attack on Iran, Bitcoin has risen about 12%, while gold prices have declined. However, he cautioned against attributing these movements solely to geopolitical factors, suggesting that changes in institutional factors, market sentiment, and profit-taking by investors may also play a role.