Key Points
- U.S. Bitcoin ETFs are rapidly accumulating Bitcoin, with holdings approaching that of Satoshi Nakamoto.
- With a $3.4 billion inflow post-election, Bitcoin ETFs are also accumulating approximately 17,000 BTC weekly.
Bitcoin’s recent surge towards the $90,000 mark has significantly impacted the U.S. spot Bitcoin ETFs.
These ETFs are on the verge of potentially surpassing the holdings of Bitcoin’s creator, Satoshi Nakamoto, and becoming the largest collective Bitcoin holders.
Bitcoin ETFs Close to Surpassing Satoshi Nakamoto’s Holdings
Data from analyst Shaun Edmondson and Bloomberg’s Eric Balchunas shows that U.S. spot Bitcoin ETFs have amassed around 1.04 million BTC, just shy of Satoshi’s estimated 1.1 million BTC.
This accumulation indicates a growing institutional appetite for Bitcoin as the asset continues to gain traction within mainstream investment portfolios.
As of October 28th, U.S. Bitcoin funds reported a collective holding of 983,334 BTC, indicating a substantial accumulation of over 56,000 BTC within the past two weeks.
Record Performance for Bitcoin ETFs
Recent data from Farside Investors highlights the surge in interest, with U.S. spot Bitcoin ETFs attracting an impressive $3.4 billion in just four days following Election Day.
Last Thursday marked a record performance for Bitcoin ETFs, with investors injecting around $1.3 billion into these funds.
BlackRock’s IBIT alone saw a staggering $1.1 billion inflow, coupled with exceptionally high trading volumes.
Analyst Eric Balchunas noted that these funds are accumulating Bitcoin at a rapid pace of about 17,000 BTC per week.
This puts them on track to surpass Satoshi Nakamoto’s estimated holdings by December 2024.
Some credit for this accelerated accumulation goes to Donald Trump’s election win.
However, others believe the election isn’t the only factor at play, with the fourth Bitcoin halving also being a significant influence.
