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Investing.com-- Bitcoin was little changed on Thursday as the U.S. House of Representatives cleared a key procedural hurdle to open debate on a suite of crypto bills, after a nine-hour deadlock.
The world’s largest cryptocurrency last traded 0.3% lower at $118,400 as of 09:59 ET (13:59 GMT).
The token had surged to record highs above $123,000 at the start of the week. However, increased profit taking at record levels and concerns around U.S. trade tariffs led to a pullback below $116,000.
US crypto bills clear procedural vote
The House late Wednesday narrowly approved a motion to begin formal debate on a package of digital asset legislation, including the GENIUS Act, which sets a federal framework for stablecoins.
The vote passed 217 to 212 after hours of internal negotiations among Republicans, who were divided on whether to advance the bills individually or as a group.
The development marked the first breakthrough in what lawmakers have dubbed "Crypto Week," a coordinated push to establish regulatory clarity for the digital asset sector.
Additional bills under discussion include the CLARITY Act, which would define whether tokens fall under securities or commodities rules, and the Anti-CBDC Surveillance State Act, aimed at preventing the Federal Reserve from issuing a central bank digital currency.
The procedural vote had originally stalled on Tuesday over internal Republican disagreements, but gained momentum after intervention from President Trump and Speaker Johnson
However, the slender margin on the procedural vote and lingering uncertainty over final passage have capped momentum, keeping Bitcoin in a narrow trading band.
Traders are now awaiting the House’s floor votes on the individual bills, expected later this week, which could determine whether the token could rally again as seen last week.
Ethereum ETF holdings surge to record high
Ethereum holdings by spot exchange-traded fund (ETF) issuers reached a new all-time high on Thursday, driven by strong investor interest.
The surge follows Wednesday’s record net inflows of $726 million, the largest daily total since spot Ethereum ETFs launched. As a result, products managed by firms including BlackRock (NYSE:BLK) and Grayscale now hold a combined 4.95 million ETH, according to data from The Block.
Rising demand also helped lift ETH prices above $3,400 on Thursday. The world’s second-largest cryptocurrency soared more than 100% since April 20 amid surging ETF inflows.
Crypto price today: altcoins jump; XRP, Ether top gainers
Most altcoins rose sharply on Thursday amid broader optimism about “crypto week”.
World no.2 crypto Ethereum jumped 6.5% to $3,402.16, its highest level in over five months.
World no. 3 crypto XRP surged 84% to $3.23.
Solana gained 4.5%, and Cardano added 6.5%, while Polygon rose less than 1%.
Among meme tokens, Dogecoin jumped more than 6%, while $TRUMP traded largely flat.
(Additional reporting by Vahid Karaahmetovic.)