Institutional Demand for Bitcoin Soars as Spot ETFs Approach Satoshi’s Holdings
Institutional demand for Bitcoin is surging, with U.S. Spot Bitcoin ETFs now holding 4.6% of the total supply, valued at approximately $58 billion.
This approach reflects a preference for regulated investment options among institutions.
Data from SoSoValue shows Bitcoin ETFs have total assets of about $57.73 billion, with BlackRock leading at $22.91 billion. These funds, launched earlier this year, have attracted substantial inflows, raising predictions that they could soon exceed Satoshi Nakamoto’s holdings of roughly 1.1 million BTC, valued at $68.2 billion.
Bloomberg analyst Eric Balchunas suggested BlackRock might become the largest Bitcoin holder by next year. The influx of institutional capital is further evidenced by increased investments from firms like Goldman Sachs and Morgan Stanley.
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Bitcoin Surges as Ethereum’s Market Share Slips – Key Insights from VanEck’s ReportThe debut of Bitcoin ETFs has outperformed expectations, collecting over $4 billion on their first day, with total investments reaching $17.5 billion despite market volatility. The iShares Bitcoin Trust (IBIT) has amassed $21.5 billion in just seven months, and options trading for the IBIT has been approved by the SEC.
In other developments, speculation about Satoshi Nakamoto’s identity is growing, with an HBO documentary suggesting Len Sassaman may be the founder. This has sparked market interest, pushing Bitcoin prices above $62,000. The documentary’s release is timely, coinciding with the upcoming 2024 U.S. presidential election, where Bitcoin is a central topic. Should Nakamoto’s identity be revealed, it could significantly impact market dynamics.
Disclaimer: The content of this article solely reflects the author's opinion and does not represent the platform in any capacity. This article is not intended to serve as a reference for making investment decisions.
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