Bitcoin ETFs Near Satoshi Nakamoto's $68 Billion Mark

With 4.68% of Bitcoin’s total supply now under their control, Bitcoin ETFs are set to topple Satoshi Nakamoto’s legendary $68.2 billion BTC holdings this month

Bitcoin exchange-traded funds (ETFs) are poised to achieve a remarkable milestone this month by surpassing the legendary $68.2 billion BTC holdings of Satoshi Nakamoto.

According to data from SoSoValue, a leading financial research forum, Bitcoin ETFs currently hold a substantial $57.73 billion in the apex cryptocurrency, which equates to 4.68% of the total supply. Among these funds, Bitcoin ETFs boast the largest collective portion of BTC supply.

Since their inception in January, these funds have attracted a vast amount of capital, and if the current inflows persist, the Spot Bitcoin ETFs are set to overtake Satoshi's holdings this month, as projected earlier in August by Bloomberg analyst Eric Balchunas.

Satoshi's Bitcoin assets are valued at 1.1 million BTC, or $68.2 billion, based on the last known price of BTC.

Balchunas made an interesting prediction: by the end of next year, institutional investors might have more Bitcoin than Satoshi. If they succeed in surpassing the Bitcoin creator, it could cement their control over the market for the foreseeable future.

The current uptick in capital flows into the Spot Bitcoin ETFs is indicative of the increasing power of institutional investors in the Bitcoin market. Among institutional investors, Bitcoin is favored due to its promising future.

Record-Breaking Inflows Drive Bitcoin ETF Growth

Investment banks like Goldman Sachs and Morgan Stanley have stepped up their involvement, significantly increasing their holdings in Bitcoin-related exchange-traded funds (ETFs), Coingape shares.

Inflows and share price performances of Bitcoin ETFs have been significantly greater than anticipated since their introduction.

These exchange-traded funds set a new record for the most money ever received by an ETF on its first day, with a combined total of almost $4 billion.

Despite the unpredictable market conditions this year, investors have invested a whopping $17.5 billion into Spot Bitcoin ETFs. As an example, consider the iShares Bitcoin Trust (IBIT), the fastest-growing exchange-traded fund (ETF) ever, with $21.5 billion in assets after only seven months of operation.

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