Spot Bitcoin ETFs Overtake Satoshi Holdings as Weekly Inflows Surpass $2 Billion ⋆ ZyCrypto
The post Spot Bitcoin ETFs Overtake Satoshi Holdings as Weekly Inflows Surpass $2 Billion ⋆ ZyCrypto appeared on BitcoinEthereumNews.com.
Advertisement     US-listed spot Bitcoin exchange-traded funds (ETFs) have surpassed more than 1.1 billion BTC in holdings, and they now collectively hold more Bitcoin than Satoshi Nakamoto. According to X user Shaun Edmondson, the 11 spot Bitcoin ETFs trading on US exchanges hold 1,104,354 BTC after aggressive buying since their January launch. BlackRock’s iShares Bitcoin ETF holds the most coins with 521,375 BTC, more than double the assets of the Grayscale Bitcoin Trust. BlackRock now ranks as the third-largest Bitcoin holder. (Source: X) Data from SoSoValue shows that spot Bitcoin ETFs collectively hold $109 billion in assets, equivalent to 5.57% of Bitcoin’s market capitalization. Bitcoin ETFs Record Second-Highest Weekly Inflows Since Launch This week has boded well for spot Bitcoin ETFs, with the data so far showing that the weekly inflows are at the second-highest level since January. This comes after the products posted positive flows for six consecutive days. Advertisement   The total inflows to these products have already surpassed $2.35 billion so far this week. On December 5, inflows totaled $766M, with BlackRock’s IBIT posting $770M in inflows. These strong inflows coincided with a rally in BTC price above $100,000 to an all-time high of $103,670. Besides Bitcoin, Ethereum (ETH) ETFs have also recorded their best week since launch after total weekly inflows surpassed $752M. Spot ETH ETFs have been under pressure from persistent outflows from the Grayscale ETF. However, for the last nine days, these products have recorded positive netflows. Inflows to spot Ethereum ETFs also hit a record high of $428M on December 5, their highest level since their launch. These ETFs now hold $12.51 billion worth of Ether, equivalent to 2.71% of the altcoin’s market capitalization. Bitcoin ETFs Break Record in the ETF Market Bloomberg ETF analyst Eric Balchunas has opined that the performance of spot…
Filed under: News - @ January 1, 2025 12:12 am