Bitcoin ETFs may overtake gold ETFs by year-end.

Spot bitcoin exchange-traded funds (ETFs) in the United States are approaching a milestone. They are set to become the world's largest holder of BTC, even surpassing the amount held by Bitcoin creator Satoshi Nakamoto.

Additionally, they are holding ETFs with total net assets up to gold.

Bitcoin ETFs on the verge of surpassing Satoshi Nakamoto's BTC Stash

Since their launch in January, US spot Bitcoin ETFs have grown significantly. According to crypto analyst HODL15Capital, these funds now hold 1.081 million bitcoins, less than Nakamoto's estimate of 1.1 million.

Satoshi Nakamoto, the anonymous creator of Bitcoin, is believed to own approximately 5.68% of the total Bitcoin supply. These holdings, valued at more than $100 billion, place Nakamoto among the world's wealthiest individuals alive and well.

However, Bloomberg senior ETF analyst Eric Balchunas points out that the ETF is now 98% of the way ahead of Nakamoto. If the current rate of flow continues, this could happen by Thanksgiving, he predicted.

“Satoshi now owns 98% of the ETF's value to hold the largest position in the world. It looks like my Thanksgiving is past/past. If the next 3 days are like the flow of the last 3 days, then a deal is done,” Balchunas said.

According to SoSoValue data, inflows into these ETFs grew by around 97% to $3.3 billion in the week, with BlackRock's iShares Bitcoin Trust (IBIT) introducing $2 billion over the past five trading days. This increase coincides with the opening of options trading for these products, which many believe is attracting more institutional investors.

Meanwhile, bitcoin ETFs are narrowing the gap with gold ETFs, which currently hold $120 billion in assets under management (AUM). According to Balchunas, Bitcoin ETFs have $107 billion under management and could surpass gold ETFs by Christmas.

These rough predictions reflect Bitcoin's exceptional performance in 2024. The top cryptocurrency is up 160% since January, trading near the $100,000 landmark. Additionally, its $1.91 trillion market capitalization now surpasses silver and major corporations such as state oil company Saudi Aramco.

However, BTC remains the world's largest asset after gold with a market capitalization of over $18 billion.