Spot Bitcoin ETF inflows surge 90%, closing in on Satoshi Nakamoto’s BTC holdings

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As a seasoned crypto investor with over two decades of experience under my belt, I must say that this latest surge in inflows into U.S. spot Bitcoin ETFs is truly remarkable. It seems we are approaching Satoshi Nakamoto’s stash at an unprecedented pace, and it won’t be long before these investment vehicles eclipse the elusive creator’s holdings.

On December 3, inflows into U.S. Bitcoin Spot ETFs experienced a significant increase of more than 90%, which narrowed the gap between their accumulated Bitcoin holdings and the estimated Bitcoin hoard associated with Bitcoin’s creator, Satoshi Nakamoto.

Based on information from SoSoValue, Bitcoin ETFs at position 12 recorded inflows worth approximately $675.97 million on Tuesday. This is almost double the $353.67 million from the day before. Over the past four days, these investment tools have experienced daily net inflows, accumulating more than $1.45 billion in total during this period.

For three days straight, BlackRock’s IBIT Fund was at the forefront, receiving $693.25 million in investments. It’s worth mentioning that BlackRock’s Bitcoin ETF reached a notable achievement last week, amassing more than 500,000 Bitcoins in its holdings.

Currently, IBIT represents approximately 2.38% of the total Bitcoin circulation. With an impressive growth since its debut, IBIT’s asset management has reached nearly $50 billion, placing it among the leading three ETF launches in 2024.

On that particular day, Fidelity’s FBTC trailed slightly behind, with inflows totaling $52.17 million. This was followed by VanEck’s HODL and Bitwise’s BITB, which garnered investments of $16.21 million and $7.8 million respectively.

On the other hand, not every ETF experienced an increase; specifically, only ARK‘s ETF and 21Shares’ ARKB saw withdrawals, with a total of $93.47 million being withdrawn from ARKB on that particular day.

Contrary to the robust inflows, the cumulative trading volume for these ETFs dropped noticeably to $2.93 billion, marking a substantial decrease compared to the $3.91 billion reported the day before.

Approaching Satoshi’s stash

These Bitcoin ETFs in the U.S., currently managing a combined 1,083 thousand Bitcoins, are approaching a significant record-breaking achievement. They’re nearly ready to surpass the estimated 1,096 thousand Bitcoins owned by Satoshi Nakamoto, the mysterious creator of Bitcoin, who represents approximately 5.22% of the total supply limit.

Currently, Exchange-Traded Funds (ETFs) need an extra 13,000 Bitcoins, equivalent to around $1.23 billion at present market rates, to overtake Satoshi as the biggest Bitcoin owner. It’s worth mentioning that in this year alone, ETFs have surpassed significant corporate holders such as MicroStrategy, which was outpaced earlier in 2024.

U.S. Spot Listed ETFs hold approximately 13,000 more Bitcoins than the amount held by Satoshi, the creator of Bitcoin.

— James Van Straten (@btcjvs) December 3, 2024

Bitcoin price stalls despite inflows

It’s worth noting that even with a significant increase in ETF investments, Bitcoin’s price has been fairly stable. In the last 24 hours, Bitcoin increased by just 1.1%, reaching $96,547 at the moment, which is below the widely expected $100,000 threshold.

Trading at an angle indicates that although institutional appetite for Bitcoin is growing dramatically, the overall market is holding back due to caution, since investors are eagerly waiting for more triggers to propel the digital currency into new and unexplored territories.

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2024-12-04 11:14