Bitcoin ETFs Could Overtake Gold ETFs by End of The Year
The U.S. spot Bitcoin exchange-traded fund (ETF) is approaching a major milestone. They will become the largest Bitcoin holders in the world, surpassing even the number held by Bitcoin’s creator, Satoshi Nakamoto.
Additionally, they are catching up to gold ETFs in terms of total net assets.
Bitcoin ETF on the verge of surpassing Satoshi Nakamoto’s BTC reserves
The U.S. Spot Bitcoin ETF has grown significantly since its launch in January. According to cryptocurrency analyst HODL15Capital, these funds currently hold approximately 1.081 million Bitcoins, slightly lower than Satoshi Nakamoto’s estimate of 1.1 million.
Satoshi NakamotoAnonymous creator of Bitcoin believed to be Owns approximately 5.68% of the total Bitcoin supply. These assets are worth more than $100 billion, making Satoshi Nakamoto among the richest individuals in the world – if they were still alive and single.
However, Bloomberg senior ETF analyst Eric Balchunas pointed out that ETFs now have 98% ability to surpass Satoshi Nakamoto. He predicted that this could happen before Thanksgiving if the current pace of inflows continues.
“The U.S. Spot ETF is currently 98% complete Cong As the world’s largest holder. My Thanksgiving date looks good. If the next 3 days go by the same process as the last 3 days, then it’s a done deal. ” Balchunas said.
demand value data It shows that the funds flowing into these ETFs in the past five trading days increased by about 97% week-on-week to US$3.3 billion, of which BlackRock iShares Bitcoin Trust (IBIT) Contributed US$2 billion. The surge coincides with Introduction to options trading Many believe these products are attracting more institutional investors.
at the same time, Bitcoin ETF It is also narrowing the gap with gold ETFs, which currently have $120 billion in assets under management (AUM). According to Balciunas, Bitcoin ETF Management $107 billion, which could surpass gold ETFs by Christmas.
These bullish forecasts reflect Bitcoin’s Outstanding Performance 2024. The top cryptocurrency has surged nearly 160% since January and is trading close to the $100,000 landmark. Additionally, its $1.91 trillion market capitalization now exceeds that of major companies such as silver and state-owned oil company Saudi Aramco.
However, Bitcoin still lags behind gold, which remains the world’s largest asset with a market capitalization of over $18 billion.
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