On December 3, inflows into U.S. spot Bitcoin ETFs surged more than 90% compared to the previous day, bringing their total holdings closer to those of founder Satoshi Nakamoto's Bitcoin reserves.
According to SoSoValue data, 12 spot Bitcoin ETFs recorded inflows of $675.97 million on Tuesday, almost double the previous day's $353.67 million. These investment vehicles have now achieved net inflows for four consecutive days, totaling over $1.45 billion during this period.
BlackRock's IBIT leads for the third consecutive day, with inflows totaling $693.25 million. Notably, BlackRock's Bitcoin ETF achieved a significant milestone last week, surpassing 500,000 BTC in holdings.
It now accounts for 2.38% of Bitcoin's total supply. In less than a year since its launch, IBIT's assets under management have approached $50 billion, making it one of the top three ETFs launched in 2024.
Following closely is Fidelity's FBTC, which saw inflows of $52.17 million that day, followed by VanEck's HODL and Bitwise's BITB, attracting $16.21 million and $7.80 million, respectively.
However, not all ETFs have seen inflows; ARK and 21Shares' ARKB is the only fund reporting outflows, losing $93.47 million on that day.
Despite strong inflows, the total trading volume of these ETFs decreased to $2.93 billion, a significant drop from the previous day's $3.91 billion.
Close to Satoshi's hideout
These funds are inching closer to a historic milestone. The U.S. spot Bitcoin ETFs manage a total of 1.083 million BTC, just one step away from surpassing Satoshi's Bitcoin holdings. It is estimated that the mysterious creator of Bitcoin holds 1.096 million BTC, which accounts for 5.22% of the total supply cap.
Currently, these ETFs need an additional 13,000 BTC, approximately $1.23 billion at current market prices, to surpass Satoshi as the largest holder of Bitcoin. Notably, these ETFs have already outpaced major corporate holders like MicroStrategy this year, which was surpassed in early 2024.
Despite the inflows, the price of Bitcoin remains stagnant.
Interestingly, despite the surge in ETF inflows, the price of Bitcoin remains relatively stable. This flagship crypto asset has only risen 1.1% in the past 24 hours, trading at $96,547 at the time of writing, falling short of the highly anticipated $100,000 milestone.
This sideways trading indicates that despite institutional interest in Bitcoin continuing to soar, the overall market remains cautious as investors await further catalysts to push the asset into unknown territory.
