As a seasoned crypto investor with over two decades of experience in the financial markets, I find myself awestruck by the meteoric rise of U.S. Bitcoin ETFs. Just a little over a year since their launch, they have surpassed Satoshi Nakamoto’s holdings, becoming the largest holder of BTC globally. It’s almost comical to think that these ‘babies’ in the crypto world now outshine the father of Bitcoin himself.
US-based Bitcoin Exchange Traded Funds (ETFs) have now accumulated more than 1.104 million Bitcoins since their debut just a year ago, surpassing the total holdings of Bitcoin’s creator, Satoshi Nakamoto.
Global dominance of Bitcoin (BTC) has been achieved by exchange-traded funds in the U.S., as they now control over $109 billion worth of the cryptocurrency, making them the largest holders. Meanwhile, Satoshi Nakamoto, the mysterious inventor of Bitcoin, is reported to own approximately 1.1 million tokens valued at roughly $108 billion at present prices. These tokens have remained untouched for years.
Beating Satoshi’s stack is a significant achievement for U.S. spot Bitcoin ETFs, a type of investment that began trading on Wall Street in mid-January 2024. BlackRock’s IBIT led the pack, handling almost half of the total volume of spot Bitcoin ETF trades.
Approximately $51 billion has been invested in Bitcoin by investors, with a leading asset management company worth $10 trillion being one of the major contributors. Grayscale and Fidelity are also significant players, managing around $21 billion and $19 billion in Bitcoin, respectively.
Leading Position in Bitcoin Holdings: U.S. spot ETFs have surpassed Satoshi in total bitcoin ownership, now holding over 1.1 million coins, making them the global leaders. Remarkably, these ETFs are barely a year old, still considered infants in financial terms. This is truly astounding. Shout-out to @EdmondsonShaun for providing the data.
— Eric Balchunas (@EricBalchunas) December 6, 2024
According to experts, the increasing demand for Bitcoin through ETFs (Exchange Traded Funds) in U.S. institutions and the use of BTC by corporate treasuries is expected to steadily rise and significantly boost the overall expansion of the digital asset market, paving the way for global acceptance.
The chief executive of Hex Trust, Alessio Quaglini, pointed out that this trend might prompt a competitive race among countries for Bitcoin ownership. Meanwhile, Petr Kozyakov, the CEO of Mercuryo, shared with crypto.news his view that digital assets are evolving from being speculative to transformative technology that is becoming widely used.
Cryptocurrencies are poised to become as commonplace as the internet is today, and it’s the projects that offer smooth, secure transactions with an exceptional user experience (UX) that will lead the way. In our future, people will easily switch between digital currencies and traditional money in their everyday lives, marking the dawn of a new era for cryptocurrency.
Petr Kozyakov, Mercuryo co-founder and CEO
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2024-12-06 19:12