BlackRock’s Bitcoin ETF surges, nearing Satoshi’s holdings as institutional investors reshape the crypto landscape.
Institutional ETFs are nearing Satoshi’s holdings, potentially surpassing them by year-end.In contrast, Grayscale’s GBTC, which usually experiences outflows, reported zero movement on the same day.
However, Fidelity’s FBTC and Ark’s ARKB experienced outflows of $33.2 million and $47.4 million, respectively. This resurgence in ETF activity has propelled the U.S. BTC ETF to an astounding $17.944 billion in inflows for 2024, marking a record-breaking year-to-date accumulation of 916,047 BTC—only about 84,000 BTC shy of the coveted 1,000,000 BTC milestone.
“U.S. bitcoin ETFs had good day yesterday pushing YTD flows to new high water mark of $17.8b. They’re now 92% of the way to owning 1million bitcoin and 83% of way to passing Satoshi as top holder. Tick tock..”Satoshi Nakamoto, the creator of Bitcoin, is estimated to hold approximately 1.1 million BTC, a figure that institutional BTC ETFs are rapidly approaching.
Recent data indicates that these ETFs have now accumulated about 83% of Satoshi’s holdings, and if the trend of increasing inflows continues, it couldNotably, major asset managers like BlackRock, Fidelity, and Grayscale collectively hold a significant 901,101 BTC through their ETF products, with individual holdings of 359,271 BTC, 287,153 BTC, and 254,677 BTC, respectively.In contrast, the remaining five asset managers with BTC ETFs possess a combined total of just 14,946 BTC.
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