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Spot Bitcoin exchange-traded funds (ETFs) in the US are nearing a major milestone. They are set to become the biggest BTC holders in the world, even surpassing the amount held by Bitcoin’s creator, Satoshi Nakamoto.
Additionally, they are catching up to gold ETFs in total net assets.
Since their launch in January, US spot Bitcoin ETFs have grown significantly. According to crypto analyst HODL15Capital, these funds now hold about 1.081 million Bitcoin, just below Nakamoto’s estimated 1.1 million.
Satoshi Nakamoto, the anonymous creator of Bitcoin, is believed to own approximately 5.68% of the total Bitcoin supply. These holdings, valued at over $100 billion, place Nakamoto among the world’s wealthiest individuals — if they are alive and a single person.
However, Bloomberg’s Senior ETF Analyst, Eric Balchunas, pointed out that ETFs are now 98% of the way to overtaking Nakamoto. He predicted that if the current pace of inflows continues, this could happen by Thanksgiving.
SoSoValue data shows inflows into these ETFs grew by around 97% week-on-week to $3.3 billion over the last five trading days, with BlackRock’s iShares Bitcoin Trust (IBIT) contributing $2 billion. This surge coincides with the introduction of options trading for these products, which many believe is attracting more institutional investors.
Meanwhile, Bitcoin ETFs are also narrowing the gap with gold ETFs, which currently hold $120 billion in assets under management (AUM). According to Balchunas, Bitcoin ETFs manage $107 billion and could overtake gold ETFs by Christmas.
These bullish predictions reflect Bitcoin’s exceptional performance in 2024. The top cryptocurrency has surged nearly 160% since January, trading near the $100,000 landmark. In addition, its $1.91 trillion market capitalization now exceeds that of silver and major corporations like the state-owned oil company Saudi Aramco.
However, BTC still lags behind gold, which remains the world’s largest asset with a market capitalization of more than $18 billion.
Disclaimer
In adherence to the Trust Project guidelines, BeInCrypto is committed to unbiased, transparent reporting. This news article aims to provide accurate, timely information. However, readers are advised to verify facts independently and consult with a professional before making any decisions based on this content. Please note that our Terms and Conditions, Privacy Policy, and Disclaimers have been updated.
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The post Bitcoin ETFs Could Overtake Gold ETFs by End of The Year appeared first on Panther AI.
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Additionally, they are catching up to gold ETFs in total net assets.
Bitcoin ETFs on The Verge of Surpassing Satoshi Nakamoto’s BTC Stash
Since their launch in January, US spot Bitcoin ETFs have grown significantly. According to crypto analyst HODL15Capital, these funds now hold about 1.081 million Bitcoin, just below Nakamoto’s estimated 1.1 million.
Satoshi Nakamoto, the anonymous creator of Bitcoin, is believed to own approximately 5.68% of the total Bitcoin supply. These holdings, valued at over $100 billion, place Nakamoto among the world’s wealthiest individuals — if they are alive and a single person.
However, Bloomberg’s Senior ETF Analyst, Eric Balchunas, pointed out that ETFs are now 98% of the way to overtaking Nakamoto. He predicted that if the current pace of inflows continues, this could happen by Thanksgiving.
Bitcoin ETFs Data. Source: X/HODL15Capital
SoSoValue data shows inflows into these ETFs grew by around 97% week-on-week to $3.3 billion over the last five trading days, with BlackRock’s iShares Bitcoin Trust (IBIT) contributing $2 billion. This surge coincides with the introduction of options trading for these products, which many believe is attracting more institutional investors.
Meanwhile, Bitcoin ETFs are also narrowing the gap with gold ETFs, which currently hold $120 billion in assets under management (AUM). According to Balchunas, Bitcoin ETFs manage $107 billion and could overtake gold ETFs by Christmas.
These bullish predictions reflect Bitcoin’s exceptional performance in 2024. The top cryptocurrency has surged nearly 160% since January, trading near the $100,000 landmark. In addition, its $1.91 trillion market capitalization now exceeds that of silver and major corporations like the state-owned oil company Saudi Aramco.
However, BTC still lags behind gold, which remains the world’s largest asset with a market capitalization of more than $18 billion.
Disclaimer
In adherence to the Trust Project guidelines, BeInCrypto is committed to unbiased, transparent reporting. This news article aims to provide accurate, timely information. However, readers are advised to verify facts independently and consult with a professional before making any decisions based on this content. Please note that our Terms and Conditions, Privacy Policy, and Disclaimers have been updated.
Source link
The post Bitcoin ETFs Could Overtake Gold ETFs by End of The Year appeared first on Panther AI.
Continue reading...