BlackRock Bitcoin ETF to Overtake Satoshi Nakamoto?

The world's largest asset manager BlackRock has had a successful stint with the launch of the spot Bitcoin ETFs this year while becoming the largest BTC

World’s largest asset manager BlackRock has had a successful stint with the launch of the spot Bitcoin ETFs this year. IBIT, the BlackRock Bitcoin ETF, has already become the largest BTC fund in the market. Now, if the accumulation continues at this pace, IBIT can overtake even Bitcoin founder Satoshi Nakもと’s BTC holdings in a year’s time from now.

According to a list shared by Bloomberg ETF strategist Eric Balchunas, IBIT is already at the number three position with 347,767 Bitcoins in its kitty as of now. The only two players above IBIT are Binance exchange with 550,133 BTC and Satoshi Nakamoto with 1.1 million BTC. Balchunas notes that IBIT is on track to become the number 1 Bitcoin fund by the next year.

Apart from IBIT, other US BTC ETFs like Fidelity’s FBTC and Grayscale’s two funds – BTC and GBTC – are also among the top ten Bitcoin holders. Thus, their combined holdings could overtake Satoshi Nakamoto’s holdings by this October, Balchunas adds.

“Didn’t realize US ETFs are on track to pass Satoshi in bitcoin held in October. BlackRock alone is already #3 and on pace to be #1 late next year, and will likely stay there for a very long time,” Balchunas said in a tweet on Friday.

The launch of spot Bitcoin ETFs in the US has been a major development for the crypto industry this year. It has brought in huge liquidity and attention to the market, boosting the prices of digital assets like Bitcoin and Ethereum. However, the regulatory hurdles and the delay in the approval of these ETFs have also been a talking point in the crypto community.

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