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Bitcoin ETFs Are About to Surpass Satoshi Nakamoto’s BTC Amount
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US Bitcoin ETFs are about to reach a historic milestone. This is because the total number of Bitcoins under his management is approaching the volume attributed to Satoshi Nakamoto. This evolution reflects the significant growth of these funds, which have been consolidating their position as protagonists in the cryptocurrency market.
Since the start of operations in January, there has been significant growth in spot Bitcoin ETFs in the US. Currently, an estimated 1.081 million BTC is under the management of these funds, according to cryptocurrency analyst HODL15Capital.
This number puts ETFs just 98% of Nakamoto’s estimated volumewho is credited with holding approximately 1.1 million BTC. This is equivalent to 5.68% of the total supply of Bitcoin, valued at more than US$100 billion.
According to Bloomberg senior ETF analyst Eric Balchunas, capital inflows into these funds have been occurring at a rapid pace. The expert stated that, if the current volume of flows is maintained, the Nakamoto milestone could be surpassed in the coming days.
Will Bitcoin ETFs Leave Satoshi Behind?
During the last week, a 97% increase occurred in contributions to ETFs, totaling US$3.3 billion. BlackRock’s iShares Bitcoin Trust alone was responsible for US$2 billion of this amount.
In addition to surpassing Nakamoto’s volume, Bitcoin ETFs are approaching gold ETFs in assets under management (AUM). While gold funds currently manage US$120 billion, Bitcoin ETFs have already reached US$107 billion.
Analysts expect this parity to be reached by Christmas, marking another important achievement for the crypto market.
The appreciation of Bitcoin in 2024, with an increase of almost 160% since January, has been a determining factor in the increase in institutional interest.
Currently, Bitcoin is priced at close to US$92,000, with a market value of US$1.81 trillion, according to data from CoinGecko.
Bitcoin ETFs Are About to Surpass Satoshi Nakamoto’s BTC Amount
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Bitcoin ETFs Are About to Surpass Satoshi Nakamoto’s BTC Amount
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Bitcoin ETFs Are About to Surpass Satoshi Nakamoto’s BTC Amount
