U.S. spot bitcoin ETFs have accumulated over 1.1 million bitcoin, surpassing the estimated holdings of Bitcoin’s enigmatic creator, Satoshi Nakamoto. This milestone, highlighted by Bloomberg senior ETF analyst Eric Balchunas, signifies a notable shift in the financial landscape.
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BlackRock’s iShares Bitcoin Trust (IBIT), the world’s largest spot bitcoin ETF, holds the lion’s share of these assets, boasting nearly 528,000 bitcoin. Grayscale’s Grayscale Bitcoin Trust ETF (GBTC) and Grayscale Bitcoin Mini Trust (BTC) collectively hold approximately 241,000 bitcoin. This rapid accumulation underscores Wall Street’s increasing acceptance of cryptocurrency as a legitimate investment asset. Traditional financial institutions are providing easier access to digital assets through regulated products like ETFs.
Institutional Adoption Fuels Bitcoin ETF Growth
According to Steve Kurz, global head of asset management at Galaxy Digital, ETFs offer a convenient and efficient way for investors to gain exposure to bitcoin. “For most people… the ETF is a pretty good option,” Kurz stated in a recent webinar. “It’s efficient. It sits in your portfolio. You can post it as collateral. It’s got a lot of benefits.” The ease of use and integration with traditional portfolios are key drivers of this growth.
While Satoshi Nakamoto is widely credited with creating Bitcoin, the identity behind the name—individual or group—remains a mystery. Beyond accumulating bitcoin, these ETFs are attracting substantial new investments. Recent data from Farside Investors reveals over $2.8 billion in net inflows into bitcoin ETFs in just five trading days.
IBIT and FBTC Lead ETF Inflows
IBIT dominated recent inflows, garnering over $2.6 billion in the past five trading days. Fidelity Wise Origin Bitcoin Fund (FBTC) secured over $412 million during the same period. The combined bitcoin holdings of U.S. spot ETFs now exceed Satoshi Nakamoto’s estimated 1.1 million bitcoin, surpassing other major holders like Binance and MicroStrategy.
Kurz highlighted the continued expansion of institutional adoption, with over 50% of U.S. hedge funds now holding crypto assets, a significant increase from 25% two years ago. Daily inflows remain robust despite a recent 5.7% pullback in bitcoin’s price from its December 4th all-time high of $103,900. On December 9th, bitcoin ETFs attracted $479 million in net inflows.
Year-to-Date Performance and Future Outlook
Since their January launch, U.S. spot bitcoin ETFs have accumulated over $33.8 billion in net inflows, demonstrating sustained investor interest. This rapid asset growth indicates increasing comfort with gaining bitcoin exposure through established investment vehicles. The surge in ETF holdings signifies a potential turning point in the broader adoption of cryptocurrencies, further solidifying their place within the mainstream financial ecosystem. The accessibility and regulatory oversight provided by ETFs could pave the way for greater institutional and retail participation in the bitcoin market.
