According to Eric Balchunas, Tuttle Capital's launch of the $EUAD European Defense ETF just one month before the election has resulted in a 60% gain and attracted $900 million in assets in its first year, a significant milestone for a thematic ETF (Source: Eric Balchunas on Twitter, June 16, 2025). This strong performance in the defense sector highlights investor demand for sector-specific plays with geopolitical relevance, which could influence risk sentiment and capital flows in the broader market, including cryptocurrencies, as traders seek diversification and hedge against volatility.