U.S. Bitcoin ETFs Now Hold More Bitcoin Than Satoshi Nakamoto

Bitcoin exchange-traded funds (ETFs) in the United States have surpassed a major milestone, collectively holding more Bitcoin than is attributed to Satoshi Nakamoto, Bitcoin's anonymous creator.

Since their launch earlier this year, U.S. spot Bitcoin ETFs have accumulated over 1.1 million BTC. As of December 5th, these ETFs held 1,103,965 Bitcoin, according to Bitcoin ETF tracker HODL15Capital.

Bloomberg ETF analyst Eric Balchunas highlighted this development, crediting market analyst Shaun Edmondson for the data.

KING OF THE HILL: The US spot ETFs have just passed Satoshi in total bitcoin held, now hold more than 1.1m, more than anyone in the world, and they're not even a year old yet, literally babies still. Mind blowing. h/t @EdmondsonShaun for the data pic.twitter.com/FQBIGGz5ei
— Eric Balchunas (@EricBalchunas) December 6, 2024

A Shift in Bitcoin Ownership

Satoshi Nakamoto, known for creating Bitcoin in 2009, is believed to control approximately 1.1 million Bitcoin.

This amount represents about 5.2% of Bitcoin’s total supply, capped at 21 million coins. With the holdings of U.S. spot Bitcoin ETFs now surpassing this figure, a shift in Bitcoin’s ownership structure is evident.

In addition to outpacing Nakamoto’s holdings, U.S. Bitcoin ETFs collectively hold 42% more Bitcoin than Binance, the world’s largest Bitcoin and cryptocurrency exchange, and 63% more than MicroStrategy, the leading corporate Bitcoin holder.

Implications for the Bitcoin Market

The rapid accumulation of Bitcoin by U.S. ETFs highlight their increasing prominence in the digital asset space.

This milestone reflects growing investor interest in regulated Bitcoin investment products and could have long-term implications for market dynamics.

The significance of this shift and its potential impact on Bitcoin’s distribution and market behavior remain areas of interest for industry observers.