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.

In this video, leading Bitcoin on-chain analyst Willy Woo dives deep on the price of Bitcoin, the current state of the market, and how each Bitcoin cycle has distinct characteristics. This cycle is characterized by Wall Street, Bitcoin ETFs, and public company purchases by MicroStrategy and others. Willy Woo also notes that, in this cycle, retail investors have only just started to show up, signalling a potential shift in market dynamics. Additionally, he mentions hearing rumours of sovereign states purchasing Bitcoin or planning to do so soon. The future looks bright for Bitcoin investors.

The world’s largest asset manager, BlackRock, has reportedly endorsed the concept of a U.S. Strategic Bitcoin Reserve, a move that could revolutionize Bitcoin’s role in global finance and lead to other large nations needing to FOMO into Bitcoin due to game theory. This endorsement comes as U.S state governments and the Trump administration accelerate efforts to institutionalize Bitcoin as part of the national economic strategy.