Bitcoin ETFs are less than 200,000 BTC away from surpassing Satoshi Nakamoto’s holdings

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  • September 25, 2024
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Spot Bitcoin (BTC) exchange-traded funds (ETFs) have amassed more than 900,000 BTC since their launch and will soon surpass the 1.1 million BTC held in wallets believed to be owned by Bitcoin’s pseudonymous creator Satoshi Nakamoto.

Bloomberg senior ETF analyst Eric Balchunas recently shared a list of spot Bitcoin ETF holdings, highlighting their cumulative 916,047 BTC stash as of Sept. 24.

He noted that the ETFs are close to surpassing the 1 million BTC threshold cumulatively and just 17% shy of surpassing Nakamoto’s estimated stash.

At the current price of $63,622.03, reaching 1 million BTC equates to over $63.6 billion.

BlackRock’s iShares Bitcoin Trust ETF (IBIT) holds the largest amount among the US-traded funds, with 358,080 BTC, while Grayscale’s ETFs, GBTC and Grayscale Mini Trust (BTC), collectively hold 258,671 BTC.

Rounding out the top 3 is Fidelity’s ETF FBTC, which holds 184,490 BTC. Together, these three Bitcoin ETFs represent nearly 86% of the BTC held by 11 US-traded ETFs.

Shaun Edmondson, author of the list shared by Balchunas, noted that Fidelity holds roughly 100,000 BTC as a custodian for MicroStrategy. However, those were not included in the report.

Notably, BlackRock added nearly 530 BTC to its wallets over the past 24 hours, according to on-chain data. The last time the asset manager bought Bitcoin was one week ago, through a 273 BTC transfer from Coinbase Prime vaults.

Four consecutive days of inflows

Spot Bitcoin exchange-traded funds (ETF) reached $17.8 billion in total flows on Sept. 24, as per Farside Investors’ data.

This new mark was reached after four consecutive days of inflows, which totaled roughly $391 million. Fidelity’s FBTC led the charge by registering $117.7 million in positive flows.

BlackRock’s IBIT followed closely with $110.4 million in inflows, despite not registering activity in two out of the four last trading days. The significant amount is then due to nearly $99 million in cash flowing to IBIT yesterday.

ARK 21Shares’ ARKB wrapped up the list of Bitcoin ETFs with over $100 million in inflows, showing $103.1 million in positive net flows in four trading days.

The post Bitcoin ETFs are less than 200,000 BTC away from surpassing Satoshi Nakamoto’s holdings appeared first on CryptoSlate.

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