Bitcoin ETFs Nearing Satoshi Nakamoto’s Holdings Milestone
Bitcoin exchange-traded funds (ETFs) have been steadily growing their collective stash of BTC, with recent data indicating that they are on the brink of surpassing the holdings believed to belong to Bitcoin’s mysterious creator, Satoshi Nakamoto. As of September 24, the combined holdings of Bitcoin ETFs stand at an impressive 916,047 BTC, just under 200,000 BTC shy of Nakamoto’s estimated 1.1 million BTC. This milestone is a significant indicator of the mainstream adoption and investment interest in the leading cryptocurrency.
Breakdown of Bitcoin ETF Holdings
According to Bloomberg senior ETF analyst Eric Balchunas, the top spot among US-traded Bitcoin ETFs is held by BlackRock’s iShares Bitcoin Trust ETF (IBIT), which boasts a substantial 358,080 BTC in its wallet. Following closely behind are Grayscale’s ETFs, GBTC and Grayscale Mini Trust (BTC), with a combined holding of 258,671 BTC. Rounding out the top three is Fidelity’s ETF FBTC, which holds 184,490 BTC. These three ETFs make up nearly 86% of the total BTC held by the 11 US-traded ETFs.
Shaun Edmondson, the author of the list shared by Balchunas, pointed out that Fidelity serves as a custodian for MicroStrategy, holding approximately 100,000 BTC that were not included in the report. This additional stash further solidifies the growing interest and investment in Bitcoin by institutional players.
Recent Inflows and Market Performance
In the past 24 hours, BlackRock added nearly 530 BTC to its wallets, indicating ongoing interest and investment in the cryptocurrency. This follows a trend of consecutive days of inflows into Bitcoin ETFs, reaching a total of $17.8 billion in total flows on September 24. Fidelity’s FBTC led the way with $117.7 million in positive flows, while BlackRock’s IBIT saw $110.4 million in inflows, despite being inactive for two out of the four last trading days.
ARK 21Shares’ ARKB also saw significant inflows, with over $100 million in positive net flows in four trading days. These numbers highlight the growing popularity of Bitcoin ETFs as a convenient way for investors to gain exposure to the cryptocurrency market without directly holding the assets themselves.
The current price of Bitcoin stands at $63,622.03, making the threshold of 1 million BTC held by ETFs equivalent to over $63.6 billion. This milestone underscores the massive value and potential growth of the cryptocurrency market, as more institutional players and retail investors flock to Bitcoin as a store of value and investment opportunity.
As Bitcoin ETFs continue to amass BTC and approach the holdings of Satoshi Nakamoto, the cryptocurrency landscape is evolving rapidly, with new opportunities and challenges emerging for investors and market participants. The convergence of traditional finance and digital assets is reshaping the way we perceive and interact with money, paving the way for a more inclusive and decentralized financial system.
