The head of K33 Research, Vetle Lunde, posted yesterday (17th) stating that the AUM of the U.S. Bitcoin spot ETF has surpassed that of the U.S. Gold ETF in less than a year since its listing, overturning the dominance of the Gold ETF that has lasted for 20 years. (Background: VanEck's Top 10 Predictions for 2025: Bitcoin reaching a mid-term peak in Q1 next year, Solana spot ETF approval, DeFi hitting new highs...) (Further context: In less than a year) the scale of the BlackRock Bitcoin ETF has already surpassed its gold fund, and bank analysts predict that institutional adoption will accelerate next year. K33 Research head Vetle Lunde pointed out on social media platform X yesterday (17th) that in the U.S., the AUM of the Bitcoin spot ETF (USD 129.3 billion) has already surpassed the Gold ETF (USD 128.9 billion). It is important to note that the Gold ETF has dominated the market for 20 years, but has now been overturned. In the United States, Bitcoin ETF AUM has surpassed gold ETF AUM. Gold, with a 20-year head start, has been flipped. pic.twitter.com/nyCWtKtQaB — Vetle Lunde (@VetleLunde) December 17, 2024 What physical asset-backed ETFs are available in the U.S.? The number of asset-backed ETF products in the U.S. stock market is relatively limited and mainly concentrated in precious metals like physical gold and silver, while other types of commodities, such as oil and agricultural products, mostly use futures contracts for investment. Here are some common asset-backed ETF products: 1. Gold ETFs There are about 5 to 10 ETFs backed by gold, but the specific number often changes over time, such as with new ETF launches or some ETFs delisting. 2. Silver ETFs 3. Other physical precious metal ETFs Besides gold and silver, there are a few backed by physical platinum, such as Aberdeen Standard Physical Platinum Shares (PPLT), and by physical palladium, such as Aberdeen Standard Physical Palladium Shares (PALL). In summary, the truly asset-backed ETF products in the U.S. market are mainly concentrated in precious metals, and the launch of the Bitcoin spot ETF can be considered a significant innovation. QCP: It's hard to find reasons to be bearish on Bitcoin Additionally, yesterday (17th), QCP Broadcast released a report on its official Telegram channel noting that it's currently difficult to find reasons to be bearish on Bitcoin, as the first accounting standards for cryptocurrency from the Financial Accounting Standards Board (FASB) have taken effect, allowing companies to register their held digital assets at market fair value, which may encourage U.S. companies to adopt and embrace digital assets more actively, leading to optimistic sentiment in the market: Demand for Bitcoin will be stimulated and grow in a friendly regulatory environment. Related reports Wall Street analysts: MicroStrategy expected to be included in the S&P 500 next year, is the Bitcoin flywheel effect stable? Bitfinex: Bitcoin may reach a bull market peak in Q3-Q4 2025, looking at USD 145,000 to USD 189,000 Does Bitcoin have a Christmas rally? Analyzing the historical data of BTC over the past 10 years tells you 'The scale of the U.S. Bitcoin ETF has officially surpassed that of the Gold ETF, overturning gold's 20-year dominance.' This article was first published on BlockTempo (BlockTempo - the most influential blockchain news media).