U.S. spot Bitcoin ETFs are on track to achieve a historic milestone, potentially surpassing the legendary holdings of Bitcoin’s creator, who is estimated to have around 1.1 million BTC.
With rising institutional interest and impressive price performance, these ETFs are becoming major players in the crypto world.
Rise and shine
Since their launch in January, U.S. Bitcoin ETFs have seen explosive growth, and now these funds currently hold about 1.081 million BTC, just shy of Satoshi’s stash.
If this trend continues, analysts predict that these ETFs could eclipse Nakamoto’s holdings by Thanksgivin.
Bloomberg Senior ETF Analyst Eric Balchunas also noted the impressive inflows into these ETFs, saying they’re now 98% of the way to surpassing Satoshi’s Bitcoin stash.
“At this rate, we could see that milestone reached within days if inflows keep up.”
Major inflows
In the past week alone, Bitcoin ETFs experienced a significant surge in inflows, jumping 97% week-on-week to reach $3.3 billion.
BlackRock’s iShares Bitcoin Trust accounted for $2 billion of that total.
Many attribute this spike to the recent introduction of options trading for these ETFs, which is drawing in more institutional investors and signaling a shift toward mainstream adoption of Bitcoin.
Next target: Gold
Bitcoin ETFs aren’t just closing in on Satoshi, they’re also catching up to gold ETFs in terms of assets under management.
Currently, gold ETFs manage about $120 billion, while Bitcoin ETFs are right behind at $107 billion.
If things keep moving at this pace, analysts believe Bitcoin ETFs could surpass gold ETFs by Christmas, another major milestone for the crypto industry.
Bitcoin’s performance this year has played a central role in this growth. The cryptocurrency has surged nearly 160% since January and is now trading close to $100,000 at the time of writing, with a market cap of about $1.91 trillion.
This makes Bitcoin more valuable than silver and even larger than some major companies like Saudi Aramco.
It still trails behind gold, which boasts a market cap exceeding $18 trillion.
