Satoshi

Satoshi Nakamoto

Bitcoin

<ul class="wp-block-list">
 <li>U.S. Bitcoin ETFs are quickly accumulating holdings, totals nearing one million BTC this week.</li>  
 <li>ETF managers, including BlackRock, may surpass Satoshi Nakamoto’s holdings as early as mid-December.</li>  
 <li>Rising interest in Bitcoin ETFs pushes weekly inflows of 17,000 BTC, with major issuers leading accumulation.</li> 
</ul>  
<p>U.S.-based Bitcoin ETFs could hit a major milestone, quickly approaching a significant landmark that could see them surpass the estimated 1.1 million BTC attributed to Bitcoin creator Satoshi Nakamoto by mid-December. Bloomberg’s Eric Balchunas anticipates this development, driven by a steady influx of approximately 17,000 BTC weekly.</p>  
<figure class="wp-block-embed is-type-rich is-provider-twitter wp-block-embed-twitter">
 <div class="wp-block-embed__wrapper">
  https://twitter.com/EricBalchunas/status/1851253463734190477
 </div>
</figure>  
<h2 class="wp-block-heading" id="h-accumulation-rate-grows-as-market-interest-soars">Accumulation Rate Grows as Market Interest Soars</h2>  
<p>With Bitcoin’s appeal growing, <a href="https://cryptonewsland.com/bitcoin-etfs-see-first-outflow-as-btc-hovers-at-67k-is-volatility-ahead/" target="_blank" rel="noopener noreferrer nofollow">Bitcoin ETFs</a> have drawn substantial weekly inflows, edging them closer to the million-BTC mark. Should the current pace continue, these funds could outpace even Satoshi Nakamoto's holdings within the next six weeks. ETF holdings currently total around 983,334 BTC, with some of the industry’s largest asset managers, BlackRock and Grayscale, holding a significant share of these funds.</p>  
<p>Among ETF issuers, BlackRock holds the largest percentage, accounting for 41.5% of total Bitcoin ETF assets, closely followed by <a href="https://cryptonewsland.com/grayscales-bid-to-launch-multi-crypto-etf-why-bitcoin-and-ether-liquidity-may-seal-the-deal/" target="_blank" rel="noopener noreferrer nofollow">Grayscale,</a> which contributes 25.9%. BlackRock’s holdings now total around 408,237 BTC, helping position these funds as top BTC holders worldwide. Should this growth continue, Bitcoin ETFs are poised to surpass Binance, which currently holds 667,526 BTC, as one of the largest entities holding Bitcoin.</p>  
<p>Though external conditions may alter the trajectory, the steady rise in Bitcoin ETF holdings highlights significant market enthusiasm. While the current trend supports continued inflows, any market volatility or investor sentiment shifts could accelerate or delay this milestone. Analysts suggest favorable market conditions could push ETFs beyond the anticipated December target.</p>  
<h2 class="wp-block-heading" id="h-broader-implications-for-institutional-btc-holdings">Broader Implications for Institutional BTC Holdings</h2>  
<p>As Bitcoin ETFs gain momentum, they are becoming prominent players among the top Bitcoin holders, rivaling Nakamoto’s position and notable institutional entities. Should ETFs reach this milestone, they will mark a new phase in institutional Bitcoin accumulation, underscoring these funds' substantial role in the broader cryptocurrency market.</p> 
<p>The post <a href="https://cryptonewsland.com/bitcoin-etfs-approach-major-benchmark-amid-weekly-btc-surge/" rel="noopener noreferrer nofollow">Bitcoin ETFs Approach Major Benchmark Amid Weekly BTC Surge</a> appeared first on <a href="https://cryptonewsland.com" rel="noopener noreferrer nofollow">Crypto News Land</a>.</p>

Bitcoin ETFs Approach Major Benchmark Amid Weekly BTC Surge

Table of Contents

Crypto News Land

Other articles published on Oct 29, 2024

Analysts Show Interest in New Altcoin Offering 18% APY for Staking Over Hedera and PancakeSwap

Elite Analyst Reveals Why Aptos (APT) Price Could Be on the Verge of a Breakout

EigenLayer completes investigation on $5.7M hack

Top 5 Altcoins to Invest in Now for Potential Life-Changing Gains

Will SHIB Recent Price Action Lead to Sustained Gains?

USDT Makes History as the First Stablecoin on Aptos, Revolutionizing Transactions

Join our free newsletter for daily crypto updates!