Spot Bitcoin ETF on Course to Surpass Satoshi Nakamoto BTC Holdings by December

U.S. spot Bitcoin ETFs, accumulating BTC at a rapid rate, could surpass the estimated 1.1 million BTC held by Satoshi Nakamoto by December. In just 12 trading days, nearly $4 billion has flowed into these ETFs, with BlackRock iShares Bitcoin Trust leading the pack.

According to Bloomberg ETF analyst Eric Balchunas, U.S. spot Bitcoin ETFs are on a record-setting accumulation path that could soon eclipse the BTC holdings of Bitcoin pseudonymous creator, Satoshi Nakamoto. At their current pace of acquiring roughly 17,000 BTC weekly, the ETFs are projected to reach the estimated 1.1 million BTC benchmark held by Nakamoto by December 2024.

ETF Inflows Surge, BlackRock Leads

Over the past 12 trading days, spot Bitcoin ETFs have attracted close to $4 billion. BlackRoc iShares Bitcoin Trust ETF (IBIT) alone has pulled in around $2.6 billion, showcasing a high level of investor confidence. The cumulative inflows point to strong institutional interest, with the possibility of eclipsing Nakamoto holdings seen as an indicator of the industry momentum.

Market Uncertainty and the Future of BTC ETF

Balchunas cautions that the crypto market’s inherent volatility could impact this timeline, noting potential market events like a selloff or price fluctuations. Despite these risks, the analyst expressed confidence in the funds’ continued growth trajectory. He added that under favorable conditions, such as a political shift or increased demand, the ETFs might reach the target even sooner.

Broader Implications

If the ETFs surpass Satoshi Nakamoto BTC holdings, it would mark a historical milestone, highlighting a shift in Bitcoin ownership landscape and underscoring the growing role of institutional assets in the cryptocurrency space.

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