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

May 22, 2024
    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.
As a seasoned crypto investor with a keen eye on market trends, I’m thrilled to see U.S.-listed spot bitcoin exchange-traded funds (ETFs) breaking new records in terms of the amount of Bitcoin they hold in custody. With over 850,707 BTC now under management, it’s clear that institutional interest in crypto is stronger than ever.As a financial analyst, I’ve noticed an impressive milestone in the Bitcoin market: U.S.-listed spot Bitcoin exchange-traded funds (ETFs) currently hold approximately 850,707 Bitcoins in custody. This surpasses the previous record of around 845,000 Bitcoins that were held back in early April.
According to data from HODL15Capital, Grayscale’s GBTC is the largest Bitcoin holder among the listed funds with approximately 289,300 tokens valued at over $20 billion. BlackRock’s IBIT follows closely behind with around 283,200 tokens and a value of around $19.6 billion.
Spot Bitcoin ETFs concluded their eighth consecutive day of net purchases on Wednesday, absorbing approximately 24,500 BTC during this period. This represents a significant shift from previous weeks’ trends, as some larger ETFs experienced no new investments and even registered outflows on certain days.

A shift in sentiment

As a crypto market analyst, I’m thrilled to report that we achieved a landmark victory in U.S. policy on Wednesday. The House of Representatives passed a comprehensive bill to regulate digital asset markets, securing a resounding 279-136 vote. Remarkably, this bipartisan success saw Democrats from both sides of the aisle unite in support.

The Financial Innovation and Technology for the 21st Century Act (FIT21) signifies a significant milestone as it represents the first passage of a substantial cryptocurrency legislation through one of the U.S. Congress houses.

In other parts of the financial world, there is widespread anticipation among bulls that a SPOT ETF could receive approval in the United States this week. This unexpected turn of events has significantly increased the likelihood of approval from around 25% to over 75%, according to some analysts.

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2024-05-23 15:34