The post Bitcoin ETFs Almost Equal Satoshi Nakamoto’s Stash as Demand Heightens appeared on BitcoinEthereumNews.com.

The US spot Bitcoin ETFs are nearing a significant milestone, with their holdings almost equaling founder Satoshi Nakamoto’s Bitcoin stash. Notably, the US Bitcoin ETFs have been a gamechanger for the crypto sector since their launch on January 11. The investment vehicles have spurred Bitcoin’s price upsurge while turning the pioneering cryptocurrency into a mature asset class. Since their market debut, Bitcoin ETFs have been one of the fastest-growing funds, with two of them entering the top ten biggest ETF funds launched this decade. As of December 2, the US Bitcoin ETFs have seen a cumulative inflow of $31.06 billion. Bitcoin ETFs Near Satoshi Nakamoto’s Bitcoin Holdings Meanwhile, these investment products’ impressive exploits have drawn them closer to a notable milestone. The funds are now a few BTC tokens away from topping founder Satoshi Nakamoto’s stash of the premier asset. According to data, the pseudonymous founder holds over 1 million BTC, specifically 1.096 million of the asset. Satoshi Nakamoto is the largest Bitcoin holder, keeping a staggering 5.22% of the asset’s total supply cap. Bitcoin ETFs vs Satoshi However, the US spot Bitcoin ETFs are already looking to upset the founder’s years-long accolade. Having surpassed Michael Saylor’s MicroStrategy earlier in the year, the funds are 13,000 BTC tokens away from reaching Satoshi’s. Per Sosovalue, the spot ETFs’ $353.67 million inflow on Monday brought their total holdings to 1.083 billion BTC. Interestingly, the products would need an inflow worth $1.23 billion at the current market price to reach the impressive milestone. BlackRock’s ETF Surpasses 500,000 BTC More particularly, BlackRock iShares Bitcoin Trust’s (IBIT) Bitcoin holdings have also surged to a remarkable level. On Monday, the leading issuer acquired 3,525 BTC ($338.33 million), taking its stash above the landmark figure. IBIT Inflows Notably, IBIT has seen a cumulative inflow of $32.08 billion…

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Filed under: News - @ December 3, 2024 7:28 pm