US Bitcoin ETFs Approaching Satoshi Nakamoto’s Holdings

Bitcoin exchange-traded funds (ETFs) in the United States are projected to soon surpass the estimated Bitcoin holdings of Satoshi Nakamoto, the enigmatic creator of the cryptocurrency.

Growing Bitcoin ETF Holdings

Recent analysis shows that U.S. Bitcoin ETFs, on average, have been adding around 37,510 BTC to their investments each month. Currently, these ETFs hold approximately 909,700 BTC, valued at about $55.1 billion based on a BTC price of roughly $60,500.

• Current Bitcoin ETF holdings: 909,700 BTC
• Value of holdings: ~$55.1 billion
• Estimated BTC in Nakamoto’s wallet: 1.1 million BTC

Since Nakamoto’s last known activity over 13 years ago, it is believed that their holdings have remained untouched. According to Bloomberg ETF Analyst Eric Balchunas, these funds could potentially exceed Nakamoto’s stash by January of the following year if the current growth trend continues.

Impact of Major Players

Balchunas indicated that firms like BlackRock are playing a significant role in this expansion. One of their ETFs, the iShares Bitcoin Trust ETF (IBIT), has seen substantial inflows, totaling approximately $20.33 billion as of mid-August.

• BlackRock’s iShares Bitcoin Trust ETF (IBIT): $20.33 billion
• Fidelity Wise Origin Bitcoin Fund (FBTC): $9.72 billion

As of January, the combined net inflows for the 11 Bitcoin ETFs amounted to $17.35 billion, despite facing some outflows from other fund providers.

Challenges in Estimating Nakamoto’s Holdings

The precise number of Bitcoins held by Nakamoto remains uncertain, with estimates suggesting a range from 600,000 BTC across multiple wallets to the aforementioned 1.1 million BTC. This estimation complexity arises primarily due to the original mining rewards being allocated to fresh wallets by Nakamoto during Bitcoin’s early days.

In contrast to today’s mining conditions, Nakamoto was the largest miner during that era, when the Bitcoin mining process required considerably less energy and resources.

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