With over 1 million BTC under management, global Bitcoin ETFs represent $68 billion. This concentration of Bitcoin now rivals the estimated holdings of Satoshi Nakamoto, the mysterious creator of Bitcoin.
850,000 Bitcoins in ETFs in the United States
In January 2024, the Securities and Exchange Commission (SEC) approved the launch of 10 spot Bitcoin ETFs in the United States.
Within just a few months, these US Bitcoin spot ETFs attracted nearly $13 billion in new investments and now hold over 850,000 BTC, equivalent to $57.8 billion.
Among these ETFs are Grayscale’s GBTC with 288,000 BTC, BlackRock’s IBIT with 283,000 BTC, and Fidelity’s FBTC with 154,000 BTC.
Recently, another market made headlines by allowing the trading of 3 spot Bitcoin ETFs and 3 spot Ethereum ETFs. This market is the Hong Kong Stock Exchange, located in the East Asian city-state. These ETFs garnered attention because they are issued by subsidiaries of Chinese asset managers, economic competitors of the United States.
Although many hoped to see similar trading volumes as the US Bitcoin ETFs, the results were disappointing, with only $3.9 million in trading volume across the 6 Hong Kong ETFs.
ETFs worldwide hold as many Bitcoins as Satoshi Nakamoto
However, exchanges in the USA and Hong Kong are not the only ones to hold Spot Bitcoin ETFs.
Around the globe, other ETFs are attracting investors:
- BTCC from Purpose Investment, a Canadian asset manager, which holds 27,110 BTC ;
- BTCE from ETC Group, a German asset manager, with 20,837 BTC;
- the BITC of CoinShares, an asset manager based in the Channel Islands, which holds 14,176 BTC ;
- ABTC from 21Shares, a Swiss asset manager, which holds 11,094 BTC, and many others.
If you add up all the Bitcoins in the world’s ETF issuers, the sum comes to over a million units of Bitcoin. This is equivalent to 68 billion at current prices.
“32 Bitcoin spot ETFs now hold about 1 Nakamoto of BTC”
By sharing this data on X, Michael Saylor, CEO of MicroStrategy, compared ETF holdings to those of Satoshi Nakamoto, Bitcoin’s mysterious creator, who is also believed to hold over a million BTC.
A few days earlier, the Financial Conduct Authority (FCA) authorized WisdomTree to list two Exchange Traded Products (ETPs) on the London Stock Exchange. WisdomTree, a financial institution managing over $110 billion in assets, has listed ETPs on Bitcoin and Ethereum. These ETPs are available for trading today, May 28, but are not yet included in the previous ranking.
Meanwhile, the U.S. SEC has approved Ethereum spot ETFs. The centralization of Ether among a few actors is more dangerous for network sovereignty than Bitcoin’s centralization. Investors hope these new products will attract significant capital, boosting ETH’s value.
Source : SoSo Value
Leave a Reply