Bloomberg ETF analyst Eric Balchunas disclosed yesterday that the current holdings of U.S. Bitcoin spot ETFs have exceeded Satoshi Nakamoto's Bitcoin holdings, but Bitwise reminded investors that altcoins have shown signs of decoupling from Bitcoin.
Bloomberg ETF analyst Eric Balchunas posted on the social platform X yesterday (6) that the current BTC holdings of the US Bitcoin spot ETF have exceeded the 1.1 million Bitcoins held by Bitcoin inventor Satoshi Nakamoto, reaching 1,104,534 Bitcoins:
The total Bitcoin holdings of the US Bitcoin Spot ETF have just surpassed Satoshi Nakamoto and currently hold more than 1.1 million BTC, more than any other country or individual in the world, but it has only been launched for less than a year and is actually still a baby, which is really shocking.
Additionally, according to netizens' contributions, among the US Bitcoin spot ETFs, BlackRock's IBIT holds the most, reaching 521,375 coins; Grayscale follows with 251,330 coins; Fidelity's FBTC ranks third with 199,246 coins; the holdings of other firms range from tens of thousands to thousands of coins.
Analysts: Altcoins show signs of decoupling from Bitcoin
Since Trump won the US election last month, Bitcoin has increased by 33% in nearly one month, and on December 5th, it officially broke the $100,000 mark, reaching a historical high of $104,056, with a market capitalization exceeding $2 trillion, surpassing Saudi Aramco, and becoming the seventh largest asset globally.
In addition to Bitcoin recently achieving the $100,000 goal, altcoins are also gradually starting to rise. In this regard, André Dragosch, the European research director of asset management firm Bitwise, recently stated that more and more altcoins have begun to outperform Bitcoin.
Our own altcoin season index shows that in the past month, 85% of the altcoins we track have performed better than Bitcoin.
At the same time, altcoins seem to be driven by more diverse investment narratives, with an increasing divergence among them.
The correlation in performance between altcoins and Bitcoin has weakened, indicating that the excess return potential of altcoins may be greater than before the US elections.
Ethereum breaks above $4,000
Although Bitcoin reached a historical high of $104,056 on December 5th, it faced a massive sell-off around 6:00 AM on December 6th, dipping as low as $89,711. However, by the time of writing, Bitcoin has rebounded to $99,188, down 2.11% over the last 24 hours.
Bitcoin trends. Source: OKX Spot
However, it is worth noting that Ethereum, the second-largest cryptocurrency and the largest altcoin, surged above $4,000 last night, standing at $4,034 at the time of writing, with a 3.7% increase in the last 24 hours.
