Bitcoin ETFs are about to Surpass Satoshi Nakamoto’s 1.1 million units of Bitcoin.
Spot Bitcoin (BTC) exchange-traded funds (ETFs) have accumulated over 900,000 BTC since their introduction, and they are on track to surpass the 1.1 million BTC held by wallets attributed to Bitcoin’s mysterious creator, Satoshi Nakamoto.
Eric Balchunas, a senior ETF analyst at Bloomberg, recently shared an update on the holdings of these spot Bitcoin ETFs, which currently total 916,047 BTC as of September 24. The ETFs are approaching the 1 million BTC mark, just 17% away from exceeding Nakamoto’s estimated holdings.
With Bitcoin priced at $63,622.03, reaching the 1 million BTC milestone would translate to over $63.6 billion in value. Among U.S.-traded funds, BlackRock’s iShares Bitcoin Trust ETF (IBIT) holds the largest amount, with 358,080 BTC, while Grayscale’s ETFs, including GBTC and Grayscale Mini Trust, together hold 258,671 BTC. Fidelity’s ETF FBTC follows closely, with 184,490 BTC, and these three ETFs account for nearly 86% of the total BTC** held by 11 U.S.-traded Bitcoin ETFs.
Shaun Edmondson, who compiled the list shared by Balchunas, mentioned that Fidelity serves as custodian for MicroStrategy, managing around 100,000 BTC, but those were excluded from the ETF count.
Recent on-chain data reveals that BlackRock has added nearly 530 BTC to its holdings over the past 24 hours, marking its first Bitcoin purchase in a week, after a 273 BTC transfer from Coinbase Prime vaults.
Four Days of Consecutive Inflows
Bitcoin ETFs also witnessed $17.8 billion in total flows by September 24, following four days of continuous inflows amounting to around $391 million. Fidelity’s FBTC led with $117.7 million in inflows, followed by BlackRock’s IBIT with $110.4 million, despite a few inactive trading days. ARK 21Shares’ ARKB also made a notable contribution with $103.1 million in net inflows over the same period.
