Spot Bitcoin ETFs See Massive 90% Inflow Surge, Closing In on Satoshi Nakamoto’s Bitcoin Holdings

On December 3, U.S. spot Bitcoin exchange-traded funds (ETFs) experienced a significant surge in inflows, rising by over 90% compared to the previous day. This surge brings the total holdings of these ETFs closer to rivaling the Bitcoin stash believed to be held by Bitcoin’s enigmatic creator, Satoshi Nakamoto.

According to data from SoSoValue, the combined 12 spot Bitcoin ETFs saw $675.97 million in inflows on Tuesday, nearly double the $353.67 million recorded just a day before. This marks the fourth consecutive day of net inflows, with the total over this four-day span now exceeding $1.45 billion.

BlackRock’s IBIT Leads the Charge

Leading the influx is BlackRock’s IBIT fund, which reported $693.25 million in inflows on December 3, maintaining its position at the top for the third consecutive day. BlackRock’s Bitcoin ETF has achieved a notable milestone in recent weeks, surpassing 500,000 BTC in holdings. This achievement means the IBIT now controls 2.38% of the total Bitcoin supply. With less than a year since its launch, IBIT has skyrocketed to nearly $50 billion in assets under management (AUM), positioning it among the top three ETF launches of 2024.

Fidelity and Other ETFs Also See Inflows

Trailing BlackRock, Fidelity’s FBTC fund saw $52.17 million in inflows, followed by VanEck’s HODL and Bitwise’s BITB, which attracted $16.21 million and $7.8 million, respectively. Despite the overall positive momentum, not all funds shared in the inflows. ARK and 21Shares’ ARKB was the only fund to report outflows, losing $93.47 million on the same day.

Trading Volume Drops Despite Inflows

Despite the large influx of capital, the total trading volume for these Bitcoin ETFs experienced a notable decline, falling to $2.93 billion from $3.91 billion on the previous day. This drop in volume suggests that while institutional interest in Bitcoin continues to rise, market activity within the ETFs is somewhat cooling down.

Approaching Satoshi Nakamoto’s Bitcoin Holdings

The rising influx into U.S. spot Bitcoin ETFs has pushed the collective holdings of these funds closer to an unprecedented milestone—surpassing the Bitcoin stash attributed to Satoshi Nakamoto. According to estimates, Nakamoto, the elusive creator of Bitcoin, is thought to hold around 1.096 million BTC, or 5.22% of Bitcoin’s total supply.

At present, U.S. spot Bitcoin ETFs collectively manage 1.083 million BTC, bringing them within striking distance of surpassing Nakamoto’s holdings. To surpass Satoshi, these funds would need an additional 13,000 BTC, which equates to about $1.23 billion at current market prices. This surge in ETF inflows has already allowed the funds to outpace other prominent corporate holders of Bitcoin, such as MicroStrategy, which was surpassed earlier this year.

Bitcoin Price Shows Resilience Amidst Inflows

Despite the strong institutional inflows into Bitcoin ETFs, Bitcoin’s price has remained relatively stable, inching up by only 1.1% over the past 24 hours. As of the latest data, Bitcoin is trading at $96,547, still shy of the highly anticipated $100,000 milestone that many investors had hoped for.

This period of sideways trading suggests that while institutional demand for Bitcoin is increasing, the broader market sentiment remains cautious. Investors appear to be waiting for additional market catalysts to push Bitcoin into uncharted territory and beyond the $100,000 threshold.

Institutional Interest on the Rise

The surge in inflows into Bitcoin ETFs indicates that institutional interest in Bitcoin continues to grow at a rapid pace. However, the fact that Bitcoin’s price has not yet experienced a corresponding surge suggests that the broader market is still awaiting clearer signals or catalysts that will drive the price higher.

With U.S. spot Bitcoin ETFs closing in on Satoshi Nakamoto’s estimated holdings and institutional capital continuing to flow into these investment vehicles, the next few months will likely be crucial in determining Bitcoin’s future price trajectory. If these trends continue, we may soon see a new phase in Bitcoin’s growth, as more institutional investors enter the space and the total market capitalization rises even further.