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Bitcoin ETFs Almost Equal Satoshi Nakamotos Stash as Demand Heightens

Bitcoin ETFs Almost Equal Satoshi Nakamotos Stash as Demand Heightens
© Copyright Image: The Crypto Basic

The US spot Bitcoin ETFs are nearing a significant milestone, with their holdings almost equaling founder Satoshi Nakamotos Bitcoin stash.Notably, the US Bitcoin ETFs have been a gamechanger for the crypto sector since their launch on January 11. The investment vehicles have spurred Bitcoins price upsurge while turning the pioneering cryptocurrency into a mature asset class.Since their market debut, Bitcoin ETFs have been one of the fastest-growing funds, with two of them entering the top ten biggest ETF funds launched this decade. As of December 2, the US Bitcoin ETFs have seen a cumulative inflow of $31.06 billion.Bitcoin ETFs Near Satoshi Nakamotos Bitcoin HoldingsMeanwhile, these investment products' impressive exploits have drawn them closer to a notable milestone. The funds are now a few BTC tokens away from topping founder Satoshi Nakamotos stash of the premier asset.According to data, the pseudonymous founder holds over 1 million BTC, specifically 1.096 million of the asset. Satoshi Nakamoto is the largest Bitcoin holder, keeping a staggering 5.22% of the assets total supply cap.

Bitcoin ETFs vs Satoshi
However, the US spot Bitcoin ETFs are already looking to upset the founders years-long accolade. Having surpassed Michael Saylors MicroStrategy earlier in the year, the funds are 13,000 BTC tokens away from reaching Satoshis.Per Sosovalue, the spot ETFs $353.67 million inflow on Monday brought their total holdings to 1.083 billion BTC. Interestingly, the products would need an inflow worth $1.23 billion at the current market price to reach the impressive milestone.BlackRocks ETF Surpasses 500,000 BTCMore particularly, BlackRock iShares Bitcoin Trusts (IBIT) Bitcoin holdings have also surged to a remarkable level. On Monday, the leading issuer acquired 3,525 BTC ($338.33 million), taking its stash above the landmark figure.
IBIT Inflows
Notably, IBIT has seen a cumulative inflow of $32.08 billion since its inception and now holds a net asset of $48 billion. Impressively, this is still above MicroStrategys 402,100 BTC as of December 2.Meanwhile, the buzzing US spot ETF inflows mirror growing traction for the funds. In a tweet today, CryptoQuants CEO Ki Young Ju shared an analysis showing that demands for the investment vehicles have reached the levels seen when they first made their market debut in January.An accompanying chart shows that the net positive 30-day change in Bitcoin spot ETF holdings recently reached the 150K BTC mark. Notably, the funds had a turbulent time between April and May and in September as outflows dominated the scene.
Bitcoin ETFs 30-day Change
However, investors have rekindled their interest in the products following Donald Trumps November election win. On the back of the victory, the Bitcoin ETFs recorded a single-day net inflow of $1.37 billion on November 7, their largest since inception.

Read more: https://thecryptobasic.com/2024/12/03/bitcoin-etfs-almost-equal-satoshi-nakamotos-stash-as-demand-heightens/?utm_source=rss&utm_medium=rss&utm_campaign=bitcoin-etfs-almost-equal-satoshi-nakamotos-stash-as-demand-heightens

Text source: The Crypto Basic

Disclaimer: Financial information and news are not financial advice, read the disclaimer.
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