Spot Bitcoin ETFs on the Verge of Surpassing Satoshi Nakamoto’s BTC Holdings

Spot Bitcoin exchange-traded funds (ETFs) in the US are on track to become the largest holders of BTC globally, potentially surpassing the estimated 1.1 million Bitcoin holdings of Bitcoin’s creator, Satoshi Nakamoto.

Since their launch in January, these ETFs have shown impressive growth, currently holding approximately 1.081 million Bitcoin. According to crypto analyst HODL15Capital, this puts them just below Nakamoto's holdings.

Significant Growth in Bitcoin ETF Inflows

Inflows into these ETFs have surged, with a 97% week-on-week increase, now totaling $3.3 billion in the last five trading days. Notably, BlackRock’s iShares Bitcoin Trust (IBIT) contributed $2 billion to this influx, driven by the recent introduction of options trading, attracting more institutional investors.

Eric Balchunas, a Senior ETF Analyst at Bloomberg, highlights that these ETFs are currently 98% of the way to surpassing Nakamoto's holdings. If the trend continues, he predicts this milestone could be reached by Thanksgiving.

Bitcoin ETFs Closing in on Gold

Bitcoin ETFs are also narrowing the gap with gold ETFs, which manage $120 billion in assets. Currently, Bitcoin ETFs manage around $107 billion and could potentially overtake gold ETFs by Christmas. This reflects Bitcoin’s exceptional performance in 2024, with a 160% price surge since January, nearing the $100,000 mark.

Despite these gains, Bitcoin still lags behind gold, which retains its status as the world’s largest asset with a market cap exceeding $18 billion.

For more detailed insights into these developments, check out the data from SoSoValue and other analytical resources.