US Spot Bitcoin ETFs Become Largest Bitcoin Holder, Surpassing Satoshi Nakamoto
U.S. spot Bitcoin Exchange-Traded Funds (ETFs) have become the largest holders of Bitcoin, surpassing Satoshi Nakamoto, the cryptocurrency's creator. As of December 5, 2024, these funds hold approximately 1,104,000 BTC, according to data compiled by Shaun Edmondson and shared by Bloomberg ETF analyst Eric Balchunas.
Satoshi Nakamoto's known holding is 1.1 million BTC. U.S. spot Bitcoin ETFs also outperform major entities such as governments, crypto exchanges, and corporations like MicroStrategy, which holds 402,100 BTC as of the same date.
Unprecedented Growth in Bitcoin ETFs
Since the U.S. Securities and Exchange Commission approved Bitcoin ETFs in January, their popularity has surged, particularly among investors seeking regulated exposure to cryptocurrency. On December 5, the funds recorded net inflows of $766 million, marking six consecutive days of positive flows, indicating strong interest from both retail and institutional investors.
Eric Balchunas predicts that Bitcoin ETFs may surpass gold ETFs by Christmas if current momentum continues.
What This Means for Bitcoin and Investors
This development suggests a significant shift in how Bitcoin is perceived by investors, particularly regarding trading practices. With Bitcoin ETFs emerging as the largest holders, they are likely to attract more institutional investment, reinforcing Bitcoin's status as an asset class and highlighting the maturation of the crypto market as regulated instruments gain more recognition over individual holdings.