Bitcoin exchange-traded funds (ETFs) have achieved a significant milestone in the United States, as the total number of bitcoins under custody has exceeded 850 tokens. This new record of 850.707 BTC surpasses the previous peak of over 845,000 BTC observed in early April, indicating the increasing interest and confidence of investors in cryptocurrency-based financial products.
Among the leading funds, Grayscale’s GBTC stands out as the largest holder of bitcoins, with 289,300 tokens, currently valued at over $20 billion. Following closely behind is BlackRock’s IBIT, with 283,200 BTC worth approximately $19.6 billion. These figures are based on data analytics conducted by @HODL15Capital, who continuously monitor the growth and trends in the cryptocurrency ETF space.
It is worth noting that spot ETFs experienced their eighth consecutive day of net inflows, accumulating an impressive total of over 24,500 BTC during that period. This series of acquisitions marks a significant turnaround compared to previous weeks, where some of the largest ETFs saw minimal or no new inflows, and even experienced net outflows on certain days.
On the regulatory front, the cryptocurrency industry in the US achieved a significant political victory as the House of Representatives approved comprehensive legislation aimed at establishing clear regulations for digital asset markets. The Financial Innovation and Technology for the 21st Century (FIT21) Act passed with a vote of 279-136, receiving significant bipartisan support and marking a historic moment for cryptocurrency legislation in Congress.
Meanwhile, investors anticipate the approval of a spot ether ETF later this week in the US. A sudden change in policy has raised approval expectations from 25% to over 75%, according to market analysis.
As of the time of publication, the price of BTC was quoted at $69,421.78, experiencing a 0.5% drop in the last 24 hours.
Disclaimer: The views and opinions expressed in this article, as well as those of any individuals mentioned, are solely for informational purposes and do not constitute financial, investment, or any other form of advice. Investing or trading in cryptocurrencies carries the risk of financial loss.
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