BlackRock’s IBIT Bitcoin ETF has quickly become the third-largest Bitcoin holder globally, trailing only behind Bitcoin's enigmatic creator, Satoshi Nakamoto.
The combined U.S. ETF holdings exceed 900,000 BTC, while Nakamoto’s alleged stash is around 1.1 million BTC, though this is disputed.
Bloomberg analyst Eric Balchunas forecasts that Bitcoin ETFs could surpass Nakamoto’s holdings by 2025. Currently, BlackRock’s IBIT holds 347,767 BTC, and Fidelity’s FBTC has 176,626 BTC. Grayscale is another major player with 263,801 BTC.
Didn’t realize US ETFs are on track to pass Satoshi in bitcoin held in October. BlackRock alone is already #3 and on pace to be #1 late next year, and will likely stay there for a very long time Ht @EdmondsonShaun pic.twitter.com/QGsO00zrxp
— Eric Balchunas (@EricBalchunas) August 12, 2024
Binance ranks second with over 550,000 BTC, despite regulatory challenges.
The actual BTC holdings of Satoshi Nakamoto remain debated, with some estimates suggesting less than 700,000 BTC.
BlackRock, the largest asset manager globally, continues to deepen its crypto engagement. Its iShares Bitcoin ETF manages about $21 billion, and its recent partnership with Circle to invest in USDC highlights its growing role in the sector.
BlackRock might soon launch its own blockchain to streamline asset management, potentially enhancing its influence in the cryptocurrency market.
Bitcoin could soon play an official role in Arizona’s public finance system. This week, state lawmakers approved the Arizona Strategic Bitcoin Reserve Act, a bill that would allow up to 10% of treasury and retirement fund assets to be invested in digital assets like Bitcoin.
Institutional hunger for Bitcoin is accelerating — and BlackRock is leading the charge.
Despite a rocky year for global markets, Presto’s head of research, Peter Chung, remains unfazed about Bitcoin’s long-term potential.
Bitcoin started the week strong, climbing past $94,000 and nearing the $95,000 mark, just as the market braces for important U.S. economic data.