- BlackRock’s BTC ETF has now become the third-largest Bitcoin holder.
Projections suggested that Bitcoin ETFs could surpass top holders, including Nakamoto, by late 2025.
As a seasoned researcher with over two decades of experience in financial markets, I have witnessed the evolution of various assets and investment vehicles. The meteoric rise of Bitcoin Exchange-Traded Funds (ETFs), particularly BlackRock’s IBIT Bitcoin ETF, is nothing short of astounding.
The expansion of Bitcoin Exchange-Traded Funds (ETFs) has been substantial, and BlackRock’s IBIT Bitcoin ETF has moved up to become the third largest Bitcoin holder globally, trailing only behind Grayscale in this respect.
As a researcher studying investment trends, I find it noteworthy that Fidelity’s FBTC fund has moved to the ninth position, signaling a significant shift in the landscape. However, the pioneering figure of Satoshi Nakamoto continues to lead the way, highlighting the growing institutional interest in Bitcoin, particularly through ETF investments.
Bitcoin ETF update
As reported by Farside Investors’ recent update, Bitcoin Exchange-Traded Funds (ETFs) recorded a net investment of approximately $27.8 million on August 12th. Since they first began, the total net inflows for these funds have amounted to an impressive $17.369 billion.
In this group, it’s worth noting that BlackRock’s IBIT ETF has been particularly popular, amassing an impressive $20.330 billion in net investments since its debut.
In contrast, Grayscale’s GBTC ETF has faced outflows totaling $19.462 billion over the same period.
Given the increasing investment in Bitcoin ETF by Blackrock, Eric Balchunas, a senior analyst at Bloomberg, expressed his thoughts on social media platform X (previously known as Twitter), stating…
It appears that I didn’t know before that US Exchange-Traded Funds (ETFs) are projected to surpass the amount of bitcoin held by Satoshi Nakamoto in October. BlackRock currently ranks as the third largest holder, and it is on track to become number one by the end of next year, a position it might maintain for an extended period. This information comes from Shaun Edmondson.
This indicated that Bitcoin ETFs might surpass the current leading holders by late 2025.
Satoshi Nakamoto’s BTC holdings
At present, the mysterious creator of Bitcoin, known as Satoshi Nakamoto, is believed to own approximately 1.1 million Bitcoins, which makes him the single person with the most Bitcoin in his possession.
Approximately 645,899 Bitcoins are held in Bitcoin Exchange-Traded Funds (ETFs), excluding Grayscale, collectively. The combined U.S. holdings of these ETFs surpass 900,000 Bitcoins.
Regardless of the ongoing discussion about Nakamoto’s specific possessions, the predicted growth of Bitcoin ETFs signifies a significant change in the digital currency marketplace.
Emphasizing the potential game-changing effect of Bitcoin ETFs, Spencer Hakimian, the Founder of Tolou Capital Management, expressed his thoughts.
“Institutions have been hesitant to hold Bitcoin directly on exchanges, but the introduction of Bitcoin through an Exchange-Traded Fund (ETF) could be a turning point. This new approach allows risk-averse institutions to invest in Bitcoin without direct ownership, which might significantly shift the landscape.”
During this period, Bitcoin ETFs have gained notable traction since they were introduced, but Bitcoin itself has faced a rocky road throughout the year 2024.
Earlier this year, the value of the cryptocurrency peaked at a record high of $73,000. As I write this, Bitcoin is showing signs of increasing again, nearing $60,000 following a stretch of downward trends.
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2024-08-13 19:36