From Satoshi to Spot ETFs: The New Bitcoin Barons

By alberdioni8406 | Barraca Crypto | 14 Aug 2024


Impressive capacity of the Bitcoin ETFs to purchase Bitcoin to feed their customers and in just few months in action become top holders of the asset! At the speed their accumulate Bitcoin, soon could reach and surpass the number 1 holder (the Satoshi Nakamoto wallet) to become the world leaders. To imagine, the Bitcoin ETFs together hold more than 909,700 Bitcoins.

That amount can be taken out Grayscale, as this product register outflows to feed the other ones, and keep 645,899 Bitcoin that all the Funds Hold steady. This is huge compared for example with Binance exchange, the second biggest individual holder, the Blackrock who is the biggest holder in the ETF field, can see their place taken soon as there's just a difference of 203,000 between them.

Blackrock spot ETF product IBIT is the "king" on the field and soon can reach alone 500,000 Bitcoin in their holdings in less time than any other entity and at the speed their purchase assets the sky is the limit for them. If they join together with Fidelity, they hold more than 510,000 Bitcoins with is a milestone in the field.

Bitcoin spot ETFs demand will increase and the convenience they offer will keep seeing more inflows coming as people like secure products which are "regulated" and easy to deal with them. Using Bitcoin ETFs people can own Bitcoin without need to worry about all that drives the crypto market (KYC, trading, storage etc) and take advantage of the volatility of the market.

Today, each unit of Bitcoin worth $60,000 and all accumulated Bitcoin from ETFs worth globally, included the Grayscale Fund, $54.5 billion! That's huge. Remember:

CONTENT IS KING!


Main image found on this thread on X, modified with Canva.

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