This article is also available in Spanish.
US Spot Bitcoin ETFs have transformed both Bitcoin and the broader cryptocurrency industry. These ETFs have seen significant growth in value and holdings since their launch in January 2024, Breaking multiple ETF records In traditional finance.
Related reading
Currently, US spot Bitcoin ETFs have now surpassed the elusive Bitcoin creator, Satoshi Nakamoto, as the largest holder of Bitcoin.
Historical milestone for Bitcoin ETFs
US spot Bitcoin ETFs have reached a milestone, becoming the largest holder of the token. Currently, the 12 Spot Bitcoin ETF providers in the United States collectively hold 1,104,534 BTC, representing approximately 5.62% of the total BTC market capitalization. As such, they have it now Satoshi Nakamoto has surpassed him A stash of 1,100,000 Bitcoin, which has remained untouched since its disappearance. It is worth noting that these 1,100,000 Bitcoins, which were mined during the early days of Bitcoin, have remained stagnant for more than a decade.
The remarkable achievement of US Bitcoin ETFs is a result of the continuous inflows they have achieved played an important role In pushing its price above the critical psychological threshold of $100,000. Recent data from SosoValue highlights that US BTC ETFs have recorded seven consecutive trading days of inflows, with the latest high being $376.59 million on December 6.
It is interesting that this line of inflows It extends much further The last seven trading days. Over the past 40 trading days, US Bitcoin ETFs have seen inflows on 32 occasions, reflecting a sustained trend of investor interest. Total US spot Bitcoin ETF holdings have boosted significantly due to these ongoing inflows and are now worth US$112.74 billion based on the digital currency’s current price.
Implications of the growing dominance of ETFs
the Growth of Spot Bitcoin ETFs The largest BTC holders indicate a mature market and reflect a shift in the attractiveness of cryptocurrencies to institutional investors. Institutional participation has increased dramatically, as ETFs provide a regulated way for investors to gain exposure to cryptocurrencies without directly holding cryptocurrency. This has led many market participants to point out that Bitcoin may turn into an asset for institutional holders and not individual investors anymore.
However, the momentum behind spot ETFs is unlikely to stop anytime soon. Inflow is expected to continue to increase as adoption and approval increases in other key markets, such as the European market. However, it also raises the issue of market influence and centralization of cryptocurrency holdings.
Interestingly, on-chain data shows that many long-term holders of Bitcoin in self-custody have also chosen to move their assets into these spot ETFs in order to take advantage of their regulatory clarity.
Related reading
At the time of writing, BTC was trading at $99,650 and is now Still looking to score a decisive break Above the $100,000 price level.
Featured image from Blue Trust, chart from TradingView