Bitcoin ETFs Surpass Satoshi Nakamoto’s BTC Holdings

by

As a seasoned crypto investor with over a decade of experience under my belt, witnessing the Bitcoin ETFs surpass Satoshi Nakamoto’s BTC holdings is nothing short of astonishing. It’s like watching a fledgling bird take flight for the first time – only this time, the bird just so happens to be carrying a sack full of gold coins!

Since their launch at the start of the year, Bitcoin ETFs have experienced remarkable success. To top off an exceptional first year, these funds reached a notable achievement by exceeding the amount of Bitcoin held by the mysterious creator, Satoshi Nakamoto.

Bitcoin ETFs Surpass Satoshi Nakamoto

In a recent post on X, analyst Eric Balchunas from Bloomberg disclosed an interesting fact: The combined Bitcoin ETFs now own more Bitcoins than Satoshi Nakamoto, the creator of Bitcoin. With a collective ownership of over 1.1 million Bitcoins, these ETFs have surpassed the 1.1 million Bitcoins that were mined by Satoshi Nakamoto at the inception of the cryptocurrency.

It’s impressive to note that the Bitcoin ETFs have already amassed such a significant amount given their relatively young age, demonstrating the high level of interest they have garnered since their debut on January 10. Yesterday alone, these funds attracted an inflow of $770 million.

As a crypto investor, it’s clear to see that BlackRock’s Bitcoin ETF has been leading the pack when it comes to performance among these investment funds. With an impressive $51.46 billion in assets under management, it accounts for nearly half of the $109.15 billion in total net assets these funds collectively manage.

BlackRock’s IBIT has reached an impressive milestone by surpassing $50 billion, marking a new record. Balchunas highlighted that BlackRock managed to reach this point in just 227 days, which is five times quicker than the previous fastest, who took 1,323 days.

BlackRock’s Ethereum ETF, known as the iShares Ether ETF (ETHA), has reached a significant milestone by surpassing $1 billion in inflows for the first time since its debut on July 23.

The Others That Make Up The Top 5 List

Additionally, Balchunas disclosed the other significant Bitcoin (BTC) holders in the top five. Apart from Bitcoin ETFs and Satoshi Nakamoto, Binance holds the third spot with a total of 633,103 BTC. MicroStrategy and the U.S. government follow closely, holding 402,100 and 198,109 BTC respectively.

As a crypto investor, I’ve been closely watching MicroStrategy’s strategic moves in the Bitcoin market. They’ve been steadily adding more BTC to their portfolio, which could potentially push them up the list of major Bitcoin holders someday. In a recent move, they purchased an additional 15,400 BTC, boosting their total holdings to this substantial amount.

Currently, the top ten entities in this context include the Chinese government, Bitfinex, Kraken, Block One, and Robinhood. It’s important to note that these governments acquired their Bitcoin holdings through confiscation rather than purchasing it directly. As for the US, there’s a possibility that they may soon start buying Bitcoin themselves, as President Donald Trump has hinted at establishing a Strategic Bitcoin Reserve, which could potentially lead to additional purchases of Bitcoin in the future.

Read More

2024-12-06 18:20