- BlackRock’s IBIT now holds over 500,000 BTC, becoming the third largest Bitcoin holder in the world.
- Spot Bitcoin ETFs near Satoshi’s 1.1 million BTC, reshaping institutional dominance in crypto.
BlackRock’s iShares Bitcoin (BTC) ETF (IBIT) has become a dominant force in the cryptocurrency market, now holding over 500,000 BTC and securing its position as the third largest Bitcoin holder in the world.
Is BlackRock’s Bitcoin ETF Poised to Surpass Satoshi Nakamoto’s Holdings?
With holdings valued at approximately $48 billion, BlackRock has acquired 2.38% of the total Bitcoin supply in just 233 trading days since IBIT launched.
By offering an exchange-traded product (ETP), BlackRock provided investors with simplified access to BTC, bypassing the complexities of direct ownership and reinforcing its commitment to advancing institutional adoption of Bitcoin.
As expected, Satoshi Nakamoto, the elusive creator of Bitcoin, remains the largest individual cryptocurrency holder, with an impressive 1.096 million BTC, which equates to 5.22% of Bitcoin’s capped supply.
However, Nakamoto’s holding dominance risks being disrupted as US spot Bitcoin ETFs continue their rapid accumulation.
These funds, which already surpassed MicroStrategy’s holdings earlier this year, are now just 13,000 BTC away from matching Nakamoto’s monumental stash.
Source: James Van Straten/X
This run highlights the growing influence of institutional investors in reshaping the Bitcoin landscape.
Spot Bitcoin ETF Update
Spot Bitcoin ETFs are quickly approaching a milestone, with total holdings reaching 1.083 million BTC following an inflow of $353.67 million on December 2, according to Sosovalue.
In fact, according to the latest update from Farside Investors, the BTC ETF saw inflows worth $676 million on December 3.
So, to match the 1.1 million BTC held by Nakamoto, these ETFs would require an additional inflow of $1.23 billion at current market prices.
Sosovalue data further highlights that, with the exception of the Grayscale Bitcoin Trust (GBTC), all other spot Bitcoin ETFs saw positive cumulative inflows as of December 2 while as of December 3, GBTC had not received any flow.
Critics never miss an opportunity
However, while optimism surrounds the institutional adoption of Bitcoin, critics within the crypto community express concerns about potential centralization.
They argue that entities like BlackRock, with its rapidly growing Bitcoin holdings, could undermine the very principles of decentralization on which BTC was founded.
Designed to empower individuals and reduce reliance on centralized control, the rise of institutional dominance is seen by some as a contradiction with Bitcoin’s philosophy, raising questions about the long-term implications for the crypto’s core values. cash.
For example, one user on X noted:
“Once upon a time there was a dream that was Bitcoin… it’s not that,”
Blackrock’s Bitcoin ETF outperforms major Bitcoin wallet companies
Additionally, the latest BitcoinTreasuries data filings show a dynamic change in Bitcoin holdings among major players in the business.
While MicroStrategy remains the largest corporate Bitcoin holder, with 402,100 BTC following its recent $1.5 billion purchase funded by stock sales, institutional ETFs like BlackRock’s IBIT are outpacing treasuries business in terms of Bitcoin accumulation.
Meanwhile, crypto miner MARA Holdings consolidated its position as the second largest Bitcoin holder, amassing 34,794 BTC after acquiring 6,484 tokens for $618.3 million over the past few months.
This growing competition highlights the accelerated adoption of BTC among institutional investors and businesses.
Amid the ongoing buzz, Bitcoin was trading at $96,635.38 after rising 1.35% over the past 24 hours, according to CoinMarketCap.
