US Spot Bitcoin ETFs Near Historic Milestone, Set to Surpass Satoshi Nakamoto as Largest Bitcoin Holders

Spot Bitcoin exchange-traded funds (ETFs) in the U.S. are on the verge of hitting a major milestone. They’re about to become the largest holders of Bitcoin in the world, even surpassing the amount owned by Bitcoin’s creator, Satoshi Nakamoto.

Since launching in January, these U.S. spot Bitcoin ETFs have seen impressive growth. According to crypto analyst HODL15Capital, they now hold around 1.081 million Bitcoin. That’s just shy of Nakamoto’s estimated 1.1 million Bitcoin.

Satoshi Nakamoto is believed to own about 5.68% of the total Bitcoin supply. If Nakamoto is still alive and is indeed one person, their holdings are worth over $100 billion. This places Nakamoto among the wealthiest individuals on the planet.

Bloomberg’s Senior ETF Analyst, Eric Balchunas, pointed out that these ETFs are currently 98% of the way to surpassing Nakamoto. He predicts that if the inflows continue at this pace, they could reach this milestone by Thanksgiving.

“U.S. spot ETFs are almost there. If the next three days are like the last three, it’s a done deal,” Balchunas stated.

Data from SoSoValue shows that inflows into these ETFs jumped by about 97% week-over-week, hitting $3.3 billion over the last five trading days. BlackRock’s iShares Bitcoin Trust (IBIT) contributed $2 billion to this surge. This increase comes alongside the launch of options trading for these products, which many believe is attracting more institutional investors.

Meanwhile, Bitcoin ETFs are closing in on gold ETFs, which currently manage $120 billion in assets. Balchunas noted that Bitcoin ETFs now manage $107 billion and could potentially surpass gold ETFs by Christmas.

These optimistic predictions reflect Bitcoin’s strong performance in 2024. The leading cryptocurrency has surged nearly 160% since January, trading close to the $100,000 mark. Its market capitalization of $1.91 trillion now exceeds that of silver and major corporations like Saudi Aramco.

However, Bitcoin still trails behind gold, which remains the largest asset in the world, boasting a market capitalization of over $18 billion.