Bitcoin ETFs on Track to Surpass Satoshi’s 1.1M BTC Soon

A recent chart shared by ETF analyst Eric Balchunas revealed that the combined holdings of US spot Bitcoin ETFs are on the verge of outpacing Satoshi Nakamoto’s stash of 1.1 million bitcoin (BTC).

According to the chart, US spot Bitcoin ETFs currently hold a combined 909,700 BTC since they went live seven months ago. Balchunas projected that this figure could pass Satoshi’s holdings as early as October.

Didn’t realize US ETFs are on track to pass Satoshi in bitcoin held in October. BlackRock alone is already #3 and on pace to be #1 late next year, and will likely stay there for a very long time Ht @EdmondsonShaun pic.twitter.com/QGsO00zrxp

— Eric Balchunas (@EricBalchunas) August 12, 2024

BlackRock  to Overtake Satoshi by 2025

Among the world’s top 11 largest bitcoin holders, BlackRock‘s iShares Bitcoin Trust (IBIT) is currently the third-largest, holding 347,767 BTC. Balchunas predicted that with its current pace, BlackRock might overtake Satoshi around this time next year.

The number one position is Satoshi’s 1.1 million BTC stash, followed by crypto exchange Binance, which has a total holding of 550,133 BTC.

Aside from BlackRock’s IBIT, other spot Bitcoin ETFs that made it to the top 11 list are Grayscale Bitcoin Trust ETF (GBTC) with 263,801 BTC, Fidelity Wise Origin Bitcoin Fund (FBTC) with 176,626 BTC. GBTC is ranked 4th while FBTC is in 9th position.

The addition of BTC by BlackRock and others reflects investors’ increased interest in bitcoin exposure, as issuers will need to purchase more of the digital asset to meet the growing demand for ETF shares.

Bitcoin ETFs Attract $27.8M Daily Inflow

While the movement of funds into US spot Bitcoin ETFs has been volatile over the past week, the financial products started off the new week with gains.

According to SoSoValue, the 12 ETFs attracted a single-day net inflow of $27.8 million on Monday, August 12, 2024. ARK 21Shares Bitcoin ETF (ARKB) was the main beneficiary with a net inflow of $35 million, followed by BlackRock’s IBIT, with an inflow of $13.45 million. 

The cumulative net inflow of the 12 funds currently stands at $17.37 billion, with a net asset value (NAV) of $53.75 billion.