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Bitcoin ETFs Officially Overtake Satoshi Nakamoto as Largest Bitcoin Holder
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Bitcoin ETFs have reached a historic milestone, officially surpassing Satoshi Nakamoto, the mysterious creator of Bitcoin, as the largest holder of BTC.
The information was revealed by Eric Balchunas, an ETF specialist, who highlighted that the impact of this feat marks a new era for Bitcoin, consolidating ETFs as major players in the cryptocurrency market.
It is estimated that Nakamoto mined approximately 1,100,000 BTC during the early days of the currency’s creation. However, this amount was surpassed by ETFs which, just yesterday, recorded massive capital inflows totaling an impressive US$766 million.
This significant growth is a reflection of the growing institutional demand for financial products based on Bitcoin.
Bitcoin ETFs Outperform Satoshi Nakamoto
The iShares Bitcoin Trust (IBIT), managed by BlackRock, captured the majority of this inflow, with $770 million. With over 520,000 BTC in its vaults, IBIT has established itself as the sector leader, reaching US$50 billion in assets under management.
The fund stands out as the main responsible for Nakamoto’s overcoming, placing BlackRock in a dominant position in the cryptocurrency market.
Other ETFs also saw significant inflows. Grayscale Bitcoin Mini Trust (BTC) raised $95 million, while the Fidelity Wise Origin Bitcoin Fund (FBTC) received $47 million.
However, inflows were partially offset by outflows from other funds. Grayscale Bitcoin Trust (GBTC) recorded a loss of $148 million, and the Bitwise Bitcoin ETF (BITB) lost $10 million, according to data from Soso Value.
This movement reflects a growing institutional demand for regulated financial products that offer exposure to Bitcoin.
Launched in January this year, Bitcoin ETFs quickly established themselves as an attractive alternative for investors who wish to participate in the cryptoactive market without the need to acquire Bitcoin directly and this has attracted many traders in the institutional market.
Bitcoin ETFs Officially Overtake Satoshi Nakamoto as Largest Bitcoin Holder
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Bitcoin ETFs Officially Overtake Satoshi Nakamoto as Largest Bitcoin Holder
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Bitcoin ETFs Officially Overtake Satoshi Nakamoto as Largest Bitcoin Holder
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Bitcoin ETFs Officially Overtake Satoshi Nakamoto as Largest Bitcoin Holder
