Recent data reveals that the total Bitcoin holdings of U.S.-based spot Bitcoin exchange-traded funds (ETFs) have surpassed the estimated 1.1 million BTC attributed to Satoshi Nakamoto, the anonymous creator of the cryptocurrency. This landmark event underscores a notable transformation in Bitcoin ownership, according to insights from the crypto analytics platform CoinGlass.
How Much Bitcoin Do ETFs Hold?
Currently, U.S.-based Bitcoin ETFs stand as the largest holders of Bitcoin globally. Leading this group is BlackRock’s IBIT ETF, with an impressive approximately 521,000 BTC. Following closely behind are Grayscale’s GBTC and Fidelity’s FBTC ETFs, which rank second and third in terms of holdings.
Why is This Milestone Significant?
Last week, the cumulative Bitcoin held by these ETFs eclipsed Nakamoto’s estimated holdings, indicating a remarkable surge of investment into these financial instruments. Eric Balchunas, a senior ETF expert at Bloomberg, highlighted this achievement on social media, asserting that U.S. spot Bitcoin ETFs are now the principal holders of BTC.
Key insights from this development include:
- The combined Bitcoin holdings of U.S. ETFs now exceed Satoshi Nakamoto’s estimated 1.1 million BTC.
- BlackRock’s IBIT ETF is the largest, holding around 521,000 BTC.
- Total investments in Bitcoin ETFs have surpassed $33 billion since January.
- Despite a bearish crypto market, nearly $2.4 billion was added last week alone.
The surge in ETF holdings reflects a marked increase in institutional investment in Bitcoin, suggesting that acceptance of cryptocurrency assets is on the rise. The surpassing of Nakamoto’s holdings by ETFs may represent a significant moment in the ongoing journey of Bitcoin mainstream adoption.