Vetle Lunde, head of the cryptocurrency research firm K33 Research, pointed out on social media platform X yesterday (17th) that the assets of the U.S. Bitcoin spot ETF have surpassed those of the U.S. gold ETF in less than a year since its launch.

In the U.S., the asset management scale of the Bitcoin spot ETF ($129.3 billion) has already surpassed that of the gold ETF ($128.9 billion).

It should be noted that gold ETFs have dominated the market for 20 years, but are now being disrupted.

What ETFs in the U.S. are backed by physical assets?

In the U.S. stock market, the number of ETFs backed by physical assets is relatively limited and mainly concentrated in the precious metals sector, such as 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 ETFs backed by physical assets:

1. Gold ETF

There are about 5 to 10 ETFs backed by gold, but the specific number usually changes over time, such as with the launch of new ETFs or the delisting of some ETFs.

2. Silver ETF

3. Other physical precious metal ETFs

In addition to gold and silver, there are a few physical platinum-backed ETFs, such as Aberdeen Standard Physical Platinum Shares (PPLT), and physical palladium-backed ETFs, such as Aberdeen Standard Physical Palladium Shares (PALL).

In summary, the ETFs in the U.S. market that are truly backed by physical assets are mainly concentrated in the precious metals sector, 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, QCP Broadcast released a report on its official Telegram channel yesterday (17th) stating that it is currently difficult to find reasons to be bearish on Bitcoin, as the U.S. Financial Accounting Standards Board (FASB) has recently enacted its first accounting standards for cryptocurrencies, allowing companies to register their digital assets at market fair value, which may encourage U.S. companies to adopt and embrace digital assets more actively, thus driving the market upward with optimistic sentiment.

With a friendly regulatory environment, institutional demand for Bitcoin will be stimulated and grow.