U.S. Bitcoin ETF Holdings Hit New High of More Than 850K Tokens

• U.S.-listed spot bitcoin exchange-traded funds yesterday reached new record by holdings with more than 850,000 BTC in custody, surpassing the previous high above 845,000 BTC from early April.

• Among ETFs, Grayscale’s GBTC holds the largest amount of bitcoin with over $20 billion, followed by BlackRock’s IBIT at $19.6 billion, while Hashdex Bitcoin ETF is the smallest holder with $12 million.

U.S.-listed spot bitcoin exchange-traded funds now hold a record 850,707 BTC in custody, beating a previous high above 845,000 from early April.

Among those funds, Grayscale’s GBTC remains the biggest holder of bitcoin with 289,300 tokens worth more than $20 billion, followed closely by BlackRock’s IBIT at 283,200 and $19.6 billion, according to data tracked by @HODL15Capital.

📊 UPDATED #Bitcoin ETFs schedule $IBIT $FBTC $ARKB $BITB $BRRR $BTCO $HODL $EZBC pic.twitter.com/CSyUMUNcgd

— HODL15Capital 🇺🇸 (@HODL15Capital) May 23, 2024

The spot ETFs ended Wednesday with their eighth straight day of net inflows, gobbling over 24,500 BTC over that period. This is a nearly 180-degree turn from the action of the past few weeks – with some of the biggest ETFs seeing zero inflows and even net outflows on some days.

A shift in sentiment

The crypto industry recorded its biggest-ever U.S. policy win on Wednesday when the House of Representatives approved a wide-reaching bill to establish regulations for digital assets markets, recording a 279-136 vote that saw Democrats crossing party lines to support it.

The Financial Innovation and Technology for the 21st Century Act (FIT21) marks the first time a major crypto bill has cleared one of Congress's chambers.

Elsewhere, bulls widely expect a spot ether ETF to be approved this week in the U.S. in a sudden policy shift that saw some analysts raise approval odds to over 75% from an earlier 25%.