Spot Bitcoin ETFs on Track to Pass Satoshi in BTC Held as Flows Flip Positive

Spot Bitcoin exchange-traded funds in the United States continue to accumulate BTC holdings, which will soon outnumber those of the asset’s anonymous founder. The cumulative holdings of the new U.S. spot Bitcoin ETFs that debuted in January have hit 909,700 BTC. In a post on X on August 13, Bloomberg’s senior ETF analyst Eric Balchunas compared each fund’s data to corporate BTC holdings and even the asset’s creator, Satoshi Nakamoto.”Didn’t realize US ETFs are on track to pass Satoshi in Bitcoin held in October.”

Bitcoin ETF Flows Turn Positive

Satoshi purportedly owns approximately 1.1 million BTC, while this figure is debatable and has yet to be formally proven. Nonetheless, the aggregate holdings of spot Bitcoin ETFs are expected to approach one million within the next few months. “BlackRock alone is already number 3 and on pace to be number 1 late next year and will likely stay there for a very long time,” Balchunas fumed.

BlackRock’s iShares Bitcoin Trust (IBIT) has 347,767 BTC and a current market value of around $21 billion.BitMEX Research pointed out that Coinbase has approximately two million BTC, but Balchunas responded by claiming that the data do not include custodians: “We would never count a custodian in an asset ranking.” Spencer Hakimian, founder of Tolou Capital Management, stated: “People underestimate how reluctant institutions were to own Bitcoin on exchanges.” Owning an ETF is a game changer. Allows risk-averse institutions to finally own Bitcoin. “Game changer.” On August 12, spot Bitcoin ETF flows became positive, with a total inflow of $28 million. Ark 21 Shares (ARKB) led the group with a $35.4 million inflow, followed by BlackRock (IBIT) with $13.4 million. 

Ethereum ETFs Inflow Again

Ether-based spot ETFs also had a positive day, with an aggregate inflow of $4.9 million, reversing a three-day trend of outflows. Fidelity’s FETH led with a $4 million inflow, while Bitwise (ETHW) received $2.9 million. BlackRock’s iShares Ethereum Trust (ETHA) saw a zero-flow day. Grayscale’s (ETHE) outflows came to a halt on Monday, with nil flow for the first time since the products’ introduction on July 23. Meanwhile, ETH markets rebounded sharply, with the asset rising 6.4% on the day to $2,700 during the Tuesday AM Asian trading session.

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