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

Grayscale’s GBTC remains the biggest of the funds, with more than $20 billion of bitcoin at current prices, but BlackRock's IBIT is only a small bit behind.

AccessTimeIconMay 23, 2024 at 12:24 p.m. UTC
Updated May 23, 2024 at 6:02 p.m. UTC
  • 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.

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%.

Edited by Stephen Alpher.


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Shaurya Malwa

Shaurya is the Deputy Managing Editor for the Data & Tokens team, focusing on decentralized finance, markets, on-chain data, and governance across all major and minor blockchains.

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