US Bitcoin ETFs surpass Satoshi’s slumbering stack

US Bitcoin ETFs amassed more than 1.104 million tokens within a year of their launch, surpassing Satoshi Nakamoto’s holdings.

Spot Bitcoin (BTC) exchange-traded funds in the US have become Wall Street’s largest holders of the cryptocurrency worldwide, with more than $109 billion invested. Satoshi Nakamoto, the creator of Bitcoin, holds 1.1 million tokens worth $108 billion at current prices, and these assets have remained dormant for years.

Leaving Satoshi’s pile behind is a big deal for US spot BTC ETFs, an asset class that began trading on Wall Street in mid-January 2024. BlackRock’s IBIT came out on top of the group, commanding nearly half of spot Bitcoin ETF volume.

Investors have poured over $51 billion into Bitcoin through the $10 trillion asset management giant. Grayscale and Fidelity are in the top three with $21 billion and $19 billion, respectively.

King of the Hill: US spot ETFs have surpassed Satoshi in total amount of Bitcoin held, currently over 1.1 million, meaning they hold more than anyone else in the world, and they’re not even a year old yet, they’re literally still babies. Mind-blowing. h/t @EdmondsonShaun for data pic.twitter.com/FQBIGGz5ei

— Eric Balchunas (@EricBalchunas) December 6, 2024

According to experts, US institutional demand for BTC through Bitcoin ETFs and corporate treasuries will continue to rise, rapidly accelerating the broader digital asset ecosystem towards global adoption.

Hex Trust CEO Alessio Quaglini stated that this trend could encourage a race for sovereignty among nation states for Bitcoin. Mercuryo co-founder and CEO Petr Kozyakov told crypto.news that digital assets are transitioning from speculative tools to a transformative, widely adopted technology.

Cryptocurrency is destined for mass adoption, just like the World Wide Web is today. Additionally, the projects in the field will be the ones that will excel in providing seamless and secure solutions with high-level user experience (UX). We see a future where consumers will effortlessly switch between digital tokens and fiat in their daily lives. The era of cryptocurrency has begun.

Petr Kozyakov, co-founder and CEO of Mercuryo