In a milestone for the cryptocurrency industry, the combined U.S. spot Bitcoin exchange-traded funds (ETFs) now collectively hold more Bitcoin than the estimated 1.1 million BTC attributed to Bitcoin’s pseudonymous creator, Satoshi Nakamoto.
Bloomberg ETF analyst Eric Balchunas highlighted the achievement, calling it “mind-blowing” that these funds, which launched less than a year ago, have already overtaken Satoshi as the largest Bitcoin holders globally.
According to data from CoinGlass, U.S. spot Bitcoin ETFs currently hold 1,105,923 BTC. BlackRock’s IBIT leads the pack with 521,164 BTC, followed by Grayscale’s GBTC fund, now an ETF, with 214,217 BTC, and Fidelity’s FBTC, holding 199,183 BTC.
This milestone follows an impressive positive inflow streak, with the ETFs collectively attracting over $33 billion in total inflows since trading began in January. Last week alone, nearly $2.4 billion (approximately 23,400 BTC) was added, including $766.7 million worth of net inflows on Thursday, tipping the funds past the 1.1 million BTC mark.
The ETFs’ growth coincides with Bitcoin’s meteoric 130% price surge this year, pushing its price above $100,000 and the ETFs’ assets under management (AUM) to over $100 billion.
While these ETFs now hold the most Bitcoin collectively, other entities also have substantial holdings. MicroStrategy remains the largest corporate Bitcoin holder with 402,100 BTC (worth over $40 billion) as part of its treasury strategy. The U.S. government, with 208,109 BTC seized from criminal operations, is the largest nation-state holder, followed by China and the United Kingdom.
This development highlights the growing influence of institutional investment in Bitcoin, as spot ETFs emerge as a major force in the cryptocurrency market, reshaping the dynamics of Bitcoin ownership and adoption.
