{"id":89678,"date":"2024-08-13T23:18:42","date_gmt":"2024-08-14T03:18:42","guid":{"rendered":"https:\/\/coinscreed.com\/staging\/?p=89678"},"modified":"2024-08-13T23:18:46","modified_gmt":"2024-08-14T03:18:46","slug":"us-bitcoin-etfs-on-track-to-surpass-satoshis","status":"publish","type":"post","link":"https:\/\/coinscreed.com\/staging\/us-bitcoin-etfs-on-track-to-surpass-satoshis\/","title":{"rendered":"US Bitcoin ETFs On Track To Surpass Satoshi\u2019s BTC Stack"},"content":{"rendered":"\n

On average, US Bitcoin ETFs have added 37,510 BTC to their holdings each month, and they are on the brink of surpassing Satoshi Nakamoto's <\/a>estimated cache.<\/p>\n\n\n\n

\"US
US Bitcoin ETFs On Track To Surpass Satoshi\u2019s BTC Stack<\/em><\/figcaption><\/figure>\n\n\n\n

Spot Bitcoin exchange-traded funds (ETFs)<\/a> in the United States may soon collectively possess more Bitcoin than the cryptocurrency's anonymous originator, Satoshi Nakamoto.<\/p>\n\n\n\n

On August 13, Bloomberg ETF Analyst Eric Balchunas published a chart on X that indicated that the ETFs currently hold a total of 909,700 Bitcoin, valued at approximately $55.1 billion at its current price of approximately $60,500.<\/p>\n\n\n\n

They are approaching Nakamoto's estimated 1.1 million BTC stash, which the enigmatic inventor mined during the infancy of BTC and has not touched since his disappearance over 13 years ago.<\/p>\n\n\n\n

The US Bitcoin ETFs add approximately 37,510 BTC to their holdings each month on average. This implies they could surpass Nakamoto's holdings in January, one year after their initial introduction.<\/p>\n\n\n\n

Balchunas believes the funds could surpass Nakamoto's hoard as early as October.<\/p>\n\n\n\n

\n

Didn\u2019t realize US ETFs are on track to pass Satoshi in bitcoin held in October. BlackRock alone is already #3 and on pace to be #1 late next year, and will likely stay there for a very long time Ht @EdmondsonShaun\r\n \r\n \r\n \r\n <\/g>\r\n \r\n \r\n \r\n <\/clipPath>\r\n <\/defs><\/svg><\/span><\/a> pic.twitter.com\/QGsO00zrxp<\/use><\/svg><\/span><\/a><\/p>— Eric Balchunas (@EricBalchunas) August 12, 2024<\/use><\/svg><\/span><\/a><\/blockquote>

Balchunas stated that BlackRock<\/use><\/svg><\/span><\/a> is currently ranked third and is expected to remain in that position for an extended period.<\/p>\n\n\n\n

US Bitcoin ETFs May have surpassed Nakamoto's BTC holdings<\/h3>\n\n\n\n

The ETFs may have already surpassed Nakamoto's total Bitcoin holdings, as some estimates suggest that the creator's holdings are as low as 600,000 BTC, distributed across as many as 20,000 wallets.<\/p>\n\n\n\n

There is no precise estimate of Nakamoto's Bitcoin holdings, as the Bitcoin originator utilized a new wallet to receive the 50 BTC reward for each block mined during the early days of Bitcoin.<\/p>\n\n\n\n

Nakamoto was the largest miner then, and the mining procedure was significantly less resource-intensive than today.<\/p>\n\n\n\n

Grayscale's flagship ETF has experienced net outflows of $19.49 billion, while the 11 Bitcoin ETFs have collectively received $17.35 billion in net inflows since January.<\/p>\n\n\n\n

As of August 12, BlackRock's iShares Bitcoin Trust ETF (IBIT) <\/a>has received a plurality of Bitcoin flows, totaling $20.33 billion. The Fidelity Wise Origin Bitcoin Fund (FBTC) has received $9.72 billion, according to Farside Investors.<\/p>\n","protected":false},"excerpt":{"rendered":"

On average, US Bitcoin ETFs have added 37,510 BTC to their holdings each month, and they are on the brink of surpassing Satoshi Nakamoto’s estimated cache. Spot Bitcoin exchange-traded funds (ETFs) in the United States may soon collectively possess more Bitcoin than the cryptocurrency’s anonymous originator, Satoshi Nakamoto. On August 13, Bloomberg ETF Analyst Eric […]<\/p>\n","protected":false},"author":59,"featured_media":75428,"comment_status":"open","ping_status":"open","sticky":false,"template":"","format":"standard","meta":{"_jetpack_memberships_contains_paid_content":false,"footnotes":""},"categories":[21],"tags":[149,1358,20410],"class_list":["post-89678","post","type-post","status-publish","format-standard","has-post-thumbnail","hentry","category-news","tag-btc","tag-satoshi-nakamoto","tag-us-bitcoin-etfs"],"jetpack_featured_media_url":"https:\/\/coinscreed.com\/staging\/wp-content\/uploads\/2024\/04\/Bitcoin-ETF-Volumes-Stay-Strong-Amid-BTC-Price-Dip.jpg","jetpack_sharing_enabled":true,"_links":{"self":[{"href":"https:\/\/coinscreed.com\/staging\/wp-json\/wp\/v2\/posts\/89678","targetHints":{"allow":["GET"]}}],"collection":[{"href":"https:\/\/coinscreed.com\/staging\/wp-json\/wp\/v2\/posts"}],"about":[{"href":"https:\/\/coinscreed.com\/staging\/wp-json\/wp\/v2\/types\/post"}],"author":[{"embeddable":true,"href":"https:\/\/coinscreed.com\/staging\/wp-json\/wp\/v2\/users\/59"}],"replies":[{"embeddable":true,"href":"https:\/\/coinscreed.com\/staging\/wp-json\/wp\/v2\/comments?post=89678"}],"version-history":[{"count":0,"href":"https:\/\/coinscreed.com\/staging\/wp-json\/wp\/v2\/posts\/89678\/revisions"}],"wp:featuredmedia":[{"embeddable":true,"href":"https:\/\/coinscreed.com\/staging\/wp-json\/wp\/v2\/media\/75428"}],"wp:attachment":[{"href":"https:\/\/coinscreed.com\/staging\/wp-json\/wp\/v2\/media?parent=89678"}],"wp:term":[{"taxonomy":"category","embeddable":true,"href":"https:\/\/coinscreed.com\/staging\/wp-json\/wp\/v2\/categories?post=89678"},{"taxonomy":"post_tag","embeddable":true,"href":"https:\/\/coinscreed.com\/staging\/wp-json\/wp\/v2\/tags?post=89678"}],"curies":[{"name":"wp","href":"https:\/\/api.w.org\/{rel}","templated":true}]}}