Bitcoin ETF Holdings Could Surpass Satoshi Nakamoto’s in Days

The holdings of physical Bitcoin ETFs (Exchange-Traded Funds) have surpassed 900,000 BTC, nearing the estimated 1.1 million BTC held by Bitcoin’s creator, Satoshi Nakamoto.

U.S. Bitcoin ETFs performed well yesterday, pushing year-to-date inflows to a new high of $17.8 billion. Currently, they hold 92% of 1 million Bitcoins, surpassing Satoshi Nakamoto’s 83% share, making them the largest holders. Eric Balchunas tweeted on September 25, 2024.

Bloomberg ETF analyst Eric Balchunas stated that as of September 24, physical Bitcoin ETFs collectively held 916,047 BTC, just shy of the 1 million BTC milestone.

At current Bitcoin prices, 1 million Bitcoins are valued at over $63 billion. Among U.S.-traded ETFs, BlackRock’s iShares Bitcoin Trust ETF (IBIT) holds the largest share with approximately 358,000 BTC. Grayscale’s ETFs (GBTC and Grayscale Mini Trust) collectively hold about 258,000 BTC, while Fidelity’s ETF FBTC holds around 184,000 BTC. These three ETFs alone account for 86% of the BTC held by the 11 U.S.-traded ETFs.

Sentiment: Neutral