US Bitcoin exchange-traded fund (ETF) assets under management (AUM) have surpassed those of gold funds for the first time, marking a significant milestone for the cryptocurrency industry. According to Norway-based cryptocurrency research firm Arcane Research, as of May 16th, the net asset value of Bitcoin spot and derivatives ETFs in the United States exceeded that of gold funds. Arcane Research CEO Vetle Lunde highlighted the achievement, stating that the AUM of US Bitcoin ETFs surpassed $129 billion, slightly exceeding the AUM of US gold ETFs. Bloomberg Senior ETF Analyst Eric Balchunas remarked on the remarkable growth of Bitcoin ETFs, emphasizing that it's "unreal" how the Bitcoin ETF has managed to compete with the gold ETF in just 11 months since its launch.