Bitcoin ETFs in the U.S. have surpassed gold ETFs in net assets for the first time, reaching $129 billion as of December 16, according to K33 Research. This milestone highlights growing institutional interest in Bitcoin, with spot and futures ETFs contributing to this surge. Bloomberg's Eric Balchunas notes that while total Bitcoin ETFs are ahead, spot Bitcoin ETFs still trail gold slightly. The rise in Bitcoin ETF assets reflects a positive outlook following recent political shifts and is part of a broader "debasement trade" strategy amid geopolitical tensions. BlackRock's iShares Bitcoin Trust leads the Bitcoin ETF market.