U.Today – It looks like U.S. spot ETFs are about to hit a milestone, as Bloomberg’s Eric Balchunas believes Bitcoin held by these funds could cross the million-BTC mark by next Wednesday. This means ETF issuers could seize Satoshi Nakamoto’s alleged 1.1 million BTC by mid-December – a huge moment for the cryptocurrency world.
The timeline is gaining momentum with the current trend of adding approximately 17,000 BTC per week to these ETFs. However, market conditions can change this, slowing down or accelerating this situation.
Currently, the total holdings of Bitcoin ETF issuers are approximately 983,334 BTC, with BlackRock (NYSE:) and Grayscale being the largest shareholders. The BlackRock ETF accounts for 41.5% of the total BTC ETF holdings, while Grayscale has a share of 25.9%.
Who will become the fresh “Satoshi”?
This rapid accumulation by Bitcoin ETFs has made them some of the top holders of BTC globally.
At the moment, Satoshi Nakamoto is still on top with an estimated 1.1 million BTC, while Binance – the world’s largest cryptocurrency exchange – holds 667,526 BTC. Rounding out the top three is BlackRock, a major player in the ETF race, managing approximately 408,237 BTC.
Some other entities such as MicroStrategy and even the US government could pose possible competition to Satoshi’s BTC stake in the future. However, it appears that ETFs are now closest to reaching this benchmark thanks to growing interest and the opportunity to grow faster if market sentiment becomes even more positive.
