Bitcoin ETFs Surpass Satoshi Nakamoto as Largest Holders of BTC

Recent data reveals that U.S.-based spot Bitcoin ETFs have surpassed the holdings of Satoshi Nakamoto, the mysterious creator of Bitcoin, to become the largest holders of the cryptocurrency.

These ETFs now collectively own 1.104 million BTC, slightly exceeding the estimated 1.1 million BTC attributed to Nakamoto. Eric Balchunas, a prominent ETF analyst, called this development “mindblowing,” highlighting that these Bitcoin-focused ETFs were only launched less than a year ago.

Among these products, BlackRock’s IBIT has notably excelled, surpassing $50 billion in assets under management, outpacing other Bitcoin ETFs. Balchunas has forecasted that IBIT could become the largest single holder of Bitcoin by 2025. Other major holders include cryptocurrency platform Binance, business intelligence firm MicroStrategy, and the U.S. government.

While Nakamoto remains one of the top holders, determining the exact amount of Bitcoin in their possession is challenging. Chainalysis, a leading blockchain analytics firm, estimates that Nakamoto holds around 1.124 million BTC spread across 36,000 wallets, though there may be additional wallets not accounted for.

Despite this, many experts believe that Nakamoto is unlikely to move their Bitcoin again, with Galaxy Digital CEO Mike Novogratz even suggesting that the Bitcoin creator may no longer be alive.