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 a ground breaking move in financial strategy, Pennsylvania has introduced a bill proposing the allocation of a portion of its treasury funds to Bitcoin. This ambitious proposal positions Pennsylvania as a potential leader among U.S. states in adopting Bitcoin as a state reserve asset, marking a forward-thinking approach to safeguarding public funds. If passed, the bill would establish a state-managed Bitcoin reserve, diversifying Pennsylvania's $7 billion Rainy Day Fund and potentially setting a model for other states.

In an exciting turn for corporate treasury strategy, Canadian-based Kontrol Technologies has officially announced Bitcoin as the latest addition to its balance sheet. The announcement sparked immediate investor interest, with Kontrol’s stock price jumping 26% following the news.