US-listed spot Bitcoin exchange-traded funds (ETFs) have surpassed more than 1.1 billion BTC in holdings, and they now collectively hold more Bitcoin than Satoshi Nakamoto.
According to X user Shaun Edmondson, the 11 spot Bitcoin ETFs trading on US exchanges hold 1,104,354 BTC after aggressive buying since their January launch.
BlackRock’s iShares Bitcoin ETF holds the most coins with 521,375 BTC, more than double the assets of the Grayscale Bitcoin Trust. BlackRock now ranks as the third-largest Bitcoin holder.
(Source: X)
Data from SoSoValue shows that spot Bitcoin ETFs collectively hold $109 billion in assets, equivalent to 5.57% of Bitcoin’s market capitalization.
Bitcoin ETFs Record Second-Highest Weekly Inflows Since Launch
This week has boded well for spot Bitcoin ETFs, with the data so far showing that the weekly inflows are at the second-highest level since January. This comes after the products posted positive flows for six consecutive days.
The total inflows to these products have already surpassed $2.35 billion so far this week. On December 5, inflows totaled $766M, with BlackRock’s IBIT posting $770M in inflows. These strong inflows coincided with a rally in BTC price above $100,000 to an all-time high of $103,670.
Besides Bitcoin, Ethereum (ETH) ETFs have also recorded their best week since launch after total weekly inflows surpassed $752M. Spot ETH ETFs have been under pressure from persistent outflows from the Grayscale ETF. However, for the last nine days, these products have recorded positive netflows.
Inflows to spot Ethereum ETFs also hit a record high of $428M on December 5, their highest level since their launch. These ETFs now hold $12.51 billion worth of Ether, equivalent to 2.71% of the altcoin’s market capitalization.
Bitcoin ETFs Break Record in the ETF Market
Bloomberg ETF analyst Eric Balchunas has opined that the performance of spot Bitcoin ETFs, especially BlackRock’s IBIT, has broken previous records in the US ETF market.
“$IBIT is now over $50b. It took it 228 days to reach this milestone, the next fastest ETF to reach 50b was $IEFA in 1,329 days. So over 5x faster than any ETF ever launched,” he stated.
Balchunas further added that while he was not a Bitcoin maximalist, BTC was a “special asset” compared to other cryptocurrencies.
Bitcoin, at press time, traded at $93,787 after a 2% drop in 24 hours.
