Damn it's on

According to PANews, as of May 31, the total number of Bitcoins held by global Bitcoin Exchange Traded Funds (ETFs) reached a historic high of 1,005,767, valued at over $68 billion. The United States Bitcoin spot ETFs held a significant portion of this total, with 858,301 Bitcoins, valued at over $58 billion.

This record-breaking accumulation of Bitcoin by ETFs indicates a growing interest and confidence in the cryptocurrency market. The United States, in particular, has shown a substantial investment in Bitcoin, with its spot ETFs holding a majority of the total Bitcoins.

The data underscores the increasing acceptance of Bitcoin as a viable investment option by major financial institutions. The surge in Bitcoin holdings by ETFs could potentially influence the cryptocurrency market, driving further growth and stability.