Originally published on: December 06, 2024
United States Bitcoin exchange-traded funds (ETFs) have reached a significant milestone by surpassing the total Bitcoin holdings of the cryptocurrency’s enigmatic creator, Satoshi Nakamoto.
Since the much-anticipated launch of spot Bitcoin ETF trading in the US earlier this year, these ETFs have now collectively acquired over 1.1 million BTC, as reported by Bloomberg ETF analyst Eric Balchunas on December 6. Market watcher Shaun Edmondson also confirmed this data.
Balchunas expressed astonishment at this achievement, stating, “The US spot ETFs have just passed Satoshi in total bitcoin held, now hold more than 1.1m, more than anyone in the world, and they’re not even a year old yet, literally babies still. Mind blowing.”
Data from Bitcoin ETF observer HODL15Capital further supports these findings, revealing that US spot Bitcoin ETFs now hold a combined total of 1,103,965 BTC as of December 5.
Satoshi Nakamoto, the mysterious figure behind Bitcoin’s creation, not only initiated the first BTC transaction in January 2009 but also holds an estimated 1.1 million BTC in Nakamoto-associated addresses, representing 5.2% of the total 21 million Bitcoin coin supply.
In a surprising turn of events, US spot Bitcoin ETFs have exceeded the Bitcoin holdings of major players like the global crypto exchange Binance by 42% and MicroStrategy by 63%, highlighting the growing influence of these investment vehicles in the crypto market.
While the true identity of Satoshi Nakamoto remains shrouded in mystery, some, like Mike Novogratz, CEO of Galaxy Digital, believe that Nakamoto may no longer be alive. Novogratz expressed his belief in a recent CNBC interview, remarking, “If Satoshi was alive — cause I don’t think he is — I’m sure that he’d have a big smile on his face.”
As Bitcoin continues to break new records, with its price surpassing $100,000 for the first time on December 5, the influence of US Bitcoin ETFs and the legacy of Satoshi Nakamoto remain pivotal in shaping the future of the cryptocurrency market.
To stay updated on the latest insights and trends in the markets, subscribe to our Markets Outlook newsletter for exclusive content delivered every Monday. Join our community of investors and traders to spot new opportunities, manage risks, and enhance your trading strategies.
