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Cryptocurrency News Articles
US Bitcoin ETFs Are 83% of the Way to Surpassing Satoshi Nakamoto as the Top BTC Holder
Sep 25, 2024 at 11:30 pm
U.S. Bitcoin exchange-traded funds (ETFs) have recorded an impressive growth trajectory. In January, the products gained regulatory approval from the U.S. Securities and Exchange Commission (SEC), and since then, they have been accumulating Bitcoin nonstop.
U.S. Bitcoin exchange-traded funds (ETFs) have been on an impressive roll. After gaining regulatory approval from the U.S. Securities and Exchange Commission (SEC) in January, the products have been accumulating Bitcoin (CRYPTO: BTC) without stopping.
Now, these ETFs are close to beating Bitcoin's creator in the BTC-holding race.
A post by Bloomberg's Senior ETF Analyst Eric Balchunas on Twitter (NYSE:TWTR) highlighted the achievement. The post puts the spotlight on the performance of the products since they were approved for trading.
Specifically, the U.S. Bitcoin ETF attained $17.8 billion in inflows for 2024, setting a new record for the digital asset's year-to-date (YTD) accumulation of 916,047 BTC. That is just about 84,000 BTC away from 1,000,000 BTC.
Satoshi Nakamoto, the anonymous creator of Bitcoin, is widely believed to have 1.1 million BTC. Taking into account the growth trajectory of these Bitcoin ETFs, the products have already attained 83% of Satoshi's holdings and could surpass them.
As these institutional investors continue ramping up their inflows, they might outpace Satoshi's holdings, dethroning him from the top spot. According to analysts, this highlights the increasing institutional products' influence on the market.
Top 12 BTC Holders Throughout the Globe
Meanwhile, a list of the top 12 Bitcoin holders in the world shows Satoshi Nakamoto at the top, followed closely by Binance, which has 673,783 BTC. BlackRock, Fidelity and Grayscale, all with their own ETF products, have 359,271 BTC, 287,153 BTC and 254,677 BTC, respectively.
These three asset managers have a combined Bitcoin stash of 901,101 BTC. That leaves the other five asset managers with Bitcoin ETFs with a balance of 14,946 BTC.
Business intelligence firm MicroStrategy, headed by Michael Saylor, comes in sixth with 252,220 BTC. Given the firm's aggressive accumulation strategy, it could soon break into the elite group of the "top five" Bitcoin holders in the world.
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The information provided is not trading advice. kdj.com does not assume any responsibility for any investments made based on the information provided in this article. Cryptocurrencies are highly volatile and it is highly recommended that you invest with caution after thorough research!
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