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

US-listed spot bitcoin exchange-traded funds reached a new record yesterday, holding more than 850,000 BTC in custody, surpassing the previous high of over 845,000 BTC in early April.

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

Spot bitcoin exchange-traded funds listed in the US currently hold a record value of 850,707 BTC, surpassing the previous high of over 845,000 in early April.

Among these funds, Grayscale’s GBTC remains the largest holder of bitcoin with 289,300 tokens valued at over $20 billion, followed by BlackRock’s IBIT with 283,200 and $19.6 billion, according to data tracked by @HODL15Capital.

Spot ETFs ended Wednesday with an eighth consecutive day of net inflows, losing over 24,500 BTC during the period. This is almost a 180-degree turn from the action of the past few weeks; Some of the largest ETFs see zero inflows or even net outflows on some days.

A change in emotions

The crypto industry scored its biggest ever policy win in the US on Wednesday when the House of Representatives approved a sweeping bill to create regulations for digital asset markets, recording a 279-136 vote that saw Democrats cross party lines to support it.

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

Bulls, on the other hand, are expecting approval of a spot Ethereum ETF in the US this week in a sudden policy change, with some analysts increasing the approval odds from 25% to over 75%.