The post Spot Bitcoin ETFs On Course To Surpass Satoshi Nakamoto BTC Holdings appeared on BitcoinEthereumNews.com.

Institutional demand for Bitcoin rises as US Spot Bitcoin ETFs now hold 4.6% of the total supply, valued at $58 billion, almost surpassing the holdings of the biggest BTC owner, Satoshi Nakamoto. This surge underscores institutional investors’ preference for regulated investment options over direct crypto purchases. Spot Bitcoin ETFs Grab Almost 5% of Total BTC Supply According to data from SoSoValue, a prominent financial research forum, Bitcoin ETFs now hold total net assets of $57.73 billion, translating to 4.68% of Bitcoin’s total supply. BlackRock accounts for most of the BTC supply these funds hold, with $22.91 billion in net assets for its Bitcoin ETF. These funds have witnessed impressive inflows since they launched in January earlier this year. Just like Bloomberg analyst Eric Balchunas predicted in August, these Spot Bitcoin ETFs are on course to surpass Satoshi Nakamoto’s holdings this month if they continue to witness the inflows they have recorded so far. Estimates put Satoshi’s holdings at 1.1 million BTC ($68.2 billion). Interestingly, Balchunas also predicted that BlackRock could become the largest Bitcoin holder by late next year, with the world’s largest asset manager holdings surpassing Satoshi’s. He added that BlackRock will likely hold this position for the longest time if it surpasses the Bitcoin founder. The institutional influence in the Bitcoin market has grown and is reflected in the incremental flows of capital into the Spot Bitcoin ETFs over recent weeks. Institutional investors favor Bitcoin for its long-term potential. This has also been manifested in the increased involvement of wealth management firms such as Goldman Sachs and Morgan Stanley, which have substantially raised their stakes in Bitcoin-related ETFs. BlackRock’s IBIT Leads the Charge The debut of Bitcoin ETFs has been far stronger than expected, with impressive inflows and share price performances. Collectively, these ETFs garnered over $4 billion…

---

Filed under: News - @ October 5, 2024 5:24 pm