TL;DR
- US spot Bitcoin ETFs have surpassed Satoshi Nakamoto, becoming the largest BTC holders in the world with 1,104,000 BTC.
- These products have generated strong investor interest, accumulating a net investment of $766 million in recent days, with a six-day winning streak.
- They are expected to surpass gold ETFs in size before Christmas, reflecting the growing interest in regulated investment vehicles in the crypto market.
US spot Bitcoin ETFs have surpassed Satoshi Nakamoto, the anonymous creator of the cryptocurrency, to become the largest BTC holders in the world.
According to data from Shaun Edmondson, shared by Bloomberg analyst Eric Balchunas, the ETFs have accumulated approximately 1,104,000 BTC, surpassing Nakamoto’s estimated 1.1 million BTC holdings. This achievement places the funds ahead of several industry heavyweights, including cryptocurrency exchanges, governments, and high-profile companies such as MicroStrategy, which holds around 402,100 BTC.
KING OF THE HILL: The US spot ETFs have just passed Satoshi in total bitcoin held, now hold more than 1.1m, more than anyone in the world, and they're not even a year old yet, literally babies still. Mind blowing. h/t @EdmondsonShaun for the data pic.twitter.com/FQBIGGz5ei
— Eric Balchunas (@EricBalchunas) December 6, 2024
The Overwhelming Success of Bitcoin ETFs
Despite being a recent innovation in the market, with less than a year of existence, US spot Bitcoin ETFs have captured all the attention from investors. The rapid accumulation of BTC by these funds is the result of a strong appetite for more exposure to the cryptocurrency through regulated investment vehicles. This type of investment has gained significant popularity, particularly because it provides a more accessible and regulated way for institutional and retail investors to participate in the Bitcoin market without the need to deal with direct cryptocurrency purchases.
Analyst Eric Balchunas had predicted this trend, noting that US Bitcoin ETFs would surpass gold ETFs in size by Christmas. In recent days, these products have received a net investment inflow of $766 million, extending their winning streak to six consecutive days. Since their launch nearly a year ago, they have established themselves as a reliable and accessible investment mechanism for institutions.
As the ETFs continue to gain traction. It its expected to keep attracting investors looking to participate in the Bitcoin market in a more structured and supervised manner. This trend will continue to drive the strengthening of the cryptocurrency market and increasing interest in investment alternatives like ETFs
