CandleFocus Spot Bitcoin ETFs on Track to Overtake Satoshi’s BTC Holdings by Year-End
2024-11-24
Author: Content Editor
Spot Bitcoin exchange-traded funds (ETFs) in the US are quickly approaching a major milestone, as they are set to become the largest holders of Bitcoin in the world, even surpassing the amount held by Bitcoin's creator, Satoshi Nakamoto. These ETFs currently hold about 1.081 million Bitcoin, just below Nakamoto's estimated 1.1 million. Bloomberg's Senior ETF Analyst predicts that if the current rate of inflows continues, ETFs could surpass Nakamoto's holdings by Thanksgiving. Inflows into these ETFs have increased significantly, with $3.3 billion flowing in over the past five trading days. These ETFs could also overtake gold ETFs by Christmas in terms of total assets under management. Bitcoin's exceptional performance in 2021, with a nearly 160% surge in value, has contributed to these bullish predictions. However, Bitcoin still lags behind gold in terms of market capitalization.
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