Bitcoin ETFs exceed Satoshi Nakamoto’s estimated BTC holdings

Spot Bitcoin ETFs hold more Bitcoin than the estimated 1.1 million BTC in the US right now, according to Bitcoin creator Satoshi Nakamoto.

This is a milestone as the combined holdings of US spot Bitcoin ETFs reach 1,105,923 BTC.

A new chapter for Bitcoin ETFs

BlackRock IBIT ETF in terms of assets under management, followed by Greyscale's GBTC and Fidelity's FBTC. In total, the 12 bitcoin ETFs in the US have generated more than $33 billion in net income since their launch in January.

This week alone, the fund saw net inflows of nearly $2.35 billion. Bitcoin's journey to the 100,000 milestone pushed the total assets under management for these ETFs to over $109 billion.

Satoshi Nakamoto mined approximately 22,000 of the first blocks of Bitcoin, earning 50 BTC per block under the initial subsidy rules, which is believed to be approximately 1.1 million BTC. These coins have remained untouched since their inception.

While Satoshi Nakamoto is the largest individual owner of Bitcoin, several entities have a significant stake in the cryptocurrency. Microstrategy leads corporate holdings with 402,100 BTC, worth over $40 billion.

In the year The firm, which adopted Bitcoin as its primary treasury in 2020, bought more than $13 billion in Bitcoin in November. Other public organizations such as MARA and Worksport have adopted a similar strategy of BTC accumulation.

Nationally, the United States holds 208,109 BTC worth $21 billion of the holdings, making it the largest national bitcoin holder, surpassing China and the UK.

“US spot ETFs have satoshis in total bitcoin holdings, they now hold over 1.1M, more than anyone else in the world, and they're not even a year old, they're literally still babies. Mind blowing,” ETF analyst Eric Balchunas wrote on X (formerly Twitter).

Continued speculation on Satoshi's identity

Speculations about Satoshi Nakamoto's identity They continue uninterrupted throughout 2024. Earlier this year, Australian scientist Craig Wright faced legal scrutiny for repeatedly claiming to be the inventor of Bitcoin.

However, the UK court rejected the evidence and ruled that the case had no reasonable prospect of success. A separate controversy arose following the release of the HBO documentary Money Electric.

In October, the documentary referred to Canadian cryptographer Peter Todd as Satoshi Nakamoto. Todd denied the claim that it was hidden due to unwanted attention and threats.

Adding to the spectacle, a London press conference at the end of October saw a man named Stephen Mollah identify himself as Nakamoto. The incident quickly unfolded as Mola failed to provide credible evidence, and technical glitches cast further doubt on his claim.

Despite ongoing theories and public interest, the true identity of Bitcoin's creator remains a mystery.