For the first time in financial history, Bitcoin exchange-traded funds (ETFs) have overtaken gold ETFs in assets under management (AUM). According to K33 Research and Bloomberg analyst Eric Balchunas, U.S. Bitcoin ETFs reached a combined total of $129 billion on December 16, 2024, edging past gold ETFs, which stood at $128 billion.

This is a monumental moment for Bitcoin, especially considering its ETFs were launched just 11 months ago, compared to gold ETFs that have had over 20 years to grow. The rapid rise of Bitcoin ETFs highlights the increasing demand from institutional investors and growing optimism about Bitcoin’s future as a financial asset.

Hut 8, one of North America's leading Bitcoin miners, has just made a massive leap in its Bitcoin holdings. On December 19, 2024, the company announced a $100 million acquisition of Bitcoin, adding 990 BTC to its reserves at an average price of $101,710 per coin. This move has pushed Hut 8’s total Bitcoin stash to over 10,096 BTC, surpassing a staggering $1 billion in market value.

Corporate adoption of Bitcoin is heating up, with major players like Metaplanet Inc., Riot Platforms, and Semler Scientific making headlines as they aggressively expand their Bitcoin reserves. These moves are clear signals of growing confidence in Bitcoin as a strategic treasury asset and inflation hedge.

A significant shift in crypto accounting is now in effect, and it’s set to reshape how companies manage and report their Bitcoin (BTC) holdings. The Accounting Standards Update 2023-08 (ASU 2023-08), issued by the Financial Accounting Standards Board (FASB), introduces fair value accounting rules for Bitcoin and other eligible crypto assets. This landmark change allows companies to recognize both price gains and losses, addressing a long-standing issue in corporate crypto accounting.

In this video, Mayor Ken Sim, of Vancouver City, shares his ground breaking motion to explore making Vancouver a Bitcoin-friendly city. Dive into his personal Bitcoin journey, his extensive background as an accountant, auditor, and entrepreneur, and his compelling insights into the benefits of Bitcoin as a treasury asset. Learn how this visionary leader is rethinking finance and innovation for Vancouver's future.