The US Bitcoin ETFs (exchange-traded funds) have set in stone a historic milestone after it surpassed the Bitcoin holdings of Satoshi Nakamoto, one of the biggest figures in the crypto world. According to reports, the US Bitcoin ETFs now control around 1.104 million BTC which values around $109 billion. This compares to Satoshi’s holdings of approximately 1.1 million BTC, just valued at around a billion USD less.
The Rise of US Bitcoin ETFs
When Bitcoin ETFs steadily made their way into Wall Street, they easily revolutionized how institutions participated in the crypto market. They have attracted large amounts of investment, especially since BlackRock’s IBIT was leading the way. BlackRock alone manages nearly half of the spot Bitcoin ETF volume. All the while it allocates $51 billion to Bitcoin under its management. Aside from BlackRock, there is also Fidelity and Grayscale which hold $19 billion and $21 billion in Bitcoin assets respectively. Together, they are considered the top three ETF managers.
Because of this sudden surge in demand, confidence in Bitcoin is a great investment asset for institutions. Experts even suggest that this trend is a sign of a possible shift when it comes to the transition of digital assets from speculative investments to transformative financial instruments.
Surpassing Satoshi’s Holdings
As US Bitcoin ETFs surpass Satoshi Nakamoto’s Bitcoin Holdings, it marks a symbolic growing maturity of the market itself. Satoshi’s holdings haven’t been tampered with ever since 2009 and it actually represents 5.2% of the entire known Bitcoin supply. Now that these holdings have been overtaken, U.S. Bitcoin ETFs represent the single largest holder of Bitcoin globally.
This development reflects just how important regulated financial products are in the crypto ecosystem. As ETFs become a safer and more accessible entry point for investors, it just further legitimizes Bitcoin being a mainstream asset.
The Broader Market Impact
You might be surprised to find that the rise of US Bitcoin ETFs has a broader impact on the industry itself. Analysts are starting to predict that the trend will not only accelerate the global adoption of Bitcoin but it might cause a ripple effect that will affect other cryptocurrencies. This was further supported by the CEO of Hex Trust, Alessio Quaglini, and Mercuryo CEO Petr Kozyakov who suggested that this could spark a “sovereign race for Bitcoin” as well as notes that Bitcoin is evolving to a point where it will eventually cement itself as a transformative technology.
Through data, it was discovered that Bitcoin ETFs hold 42% more Bitcoin than Binance which is considered to be the largest cryptocurrency exchange, and 63% more than the corporate giant known as Microstrategy. This sudden shift changes the leveling field when it comes to the institutional players in the crypto market.
While there is still some controversy regarding Satoshi Nakamoto’s true identity, some even suggest that he has already passed away. Yet as ETFs solidify their position as a dominant force in the market, Bitcoin’s journey towards global adoption looks to be unstoppable.
