Bitcoin ETFs Could Overtake Gold ETFs by End of The Year
The post Bitcoin ETFs Could Overtake Gold ETFs by End of The Year appeared on BitcoinEthereumNews.com.
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. Bitcoin ETFs Data. Source: X/HODL15Capital 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 introduction of options trading for these products, which many believe is attracting more institutional investors. Meanwhile, Bitcoin ETFs are also narrowing the gap with gold ETFs, which currently hold $120 billion in assets under management (AUM). According to Balchunas, Bitcoin ETFs manage $107 billion and could overtake gold ETFs by Christmas. These bullish predictions reflect Bitcoin’s…
Filed under: News - @ November 24, 2024 10:53 pm