Spot Bitcoin exchange-traded funds (ETFs) in the US are nearing a major milestone. They are set to become the biggest BTC holders in the world, even surpassing the amount held by Bitcoin’s creator, Satoshi Nakamoto.

Additionally, they are catching up to gold ETFs in total net assets.

Bitcoin ETFs on The Verge of Surpassing Satoshi Nakamoto’s BTC Stash

Since their launch in January, US spot Bitcoin ETFs have grown significantly. According to crypto analyst HODL15Capital, these funds now hold about 1.081 million Bitcoin, just below Nakamoto’s estimated 1.1 million.

Satoshi Nakamoto, the anonymous creator of Bitcoin, is believed to own approximately 5.68% of the total Bitcoin supply. These holdings, valued at over $100 billion, place Nakamoto among the world’s wealthiest individuals — if they are alive and a single person.

However, Bloomberg’s Senior ETF Analyst, Eric Balchunas, pointed out that ETFs are now 98% of the way to overtaking Nakamoto. He predicted that if the current pace of inflows continues, this could happen by Thanksgiving.

“US spot ETFs now 98% of way there to passing Satoshi as world’s biggest holder. My over/under date of Thanksgiving looking good. If next 3 days are like the past 3 days flow-wise it’s a done deal,” Balchunas stated.

SoSoValue data shows inflows into these ETFs grew by around 97% week-on-week to $3.3 billion over the last five trading days, with BlackRock’s iShares Bitcoin Trust (IBIT) contributing $2 billion. This surge coincides with the Go to Source to See Full Article
Author: Oluwapelumi Adejumo