Institutions are crazy about ETFs! BlackRock's BTC holdings close to 350,000 coins, poised to surpass Satoshi Nakamoto by the end of the year?
The holdings of the US Bitcoin spot ETF are growing rapidly and are poised to surpass Satoshi Nakamoto in October 2024. Asset management giant Goldman Sachs holds a large amount of these ETFs, with particular attention on BlackRock's IBIT, reflecting strong demand for crypto assets.
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Goldman Sachs Bitcoin Spot ETF Investment List: $4 Billion
According to the 13F filing that Goldman Sachs submitted to the U.S. Securities and Exchange Commission (SEC) for the second quarter yesterday, the company holds a position in the U.S. Bitcoin spot ETF worth about $4.18 billion. The largest holding is in BlackRock's IBIT, totaling 1.51 million shares, valued at $2.386 billion.
Fintel data shows that this will make Goldman Sachs the third-largest holder of the IBIT fund, behind hedge fund company Millennium and the fourth-largest asset management company in Europe, Capula.
Additionally, this asset management giant has also invested in Fidelity's FBTC, Invesco's BTCO, Grayscale's GBTC, and Bitwise's BITB, holding $79.5 million, $56.1 million, $35.1 million, and $8.3 million respectively.
It is reported that investment institutions managing assets over $100 million must submit 13F filings to the SEC every quarter, providing quarterly data on their long stock and option positions, but excluding short positions.
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Will the BTC holdings in the U.S. ETF market surpass Satoshi Nakamoto?
As institutional and retail investors' interest in U.S. Bitcoin investment products continues to grow, the market has seen tens of millions to hundreds of millions of dollars in funds inflow each week in the first two months of this year.
According to Bloomberg ETF analyst Eric Balchunas, the total holdings of all Bitcoin spot ETFs in the market have reached 909,700 BTC worth about $55.1 billion. SoSoValue data shows that this figure accounts for 4.6% of the total Bitcoin market value.
He pointed out that the total holdings of these ETFs are approaching the holdings of Bitcoin's inventor, Satoshi Nakamoto, who is estimated to hold 1.1 million BTC worth about $67 billion:
Not realizing that the amount of Bitcoin held by U.S. ETFs is about to surpass Satoshi Nakamoto, with BlackRock alone ranking third and expected to become first next year, and likely to maintain this position for a long time.
He added, "Based on the current growth rate of about 37,000 BTC flowing into ETFs per month, it is expected that by January next year, the BTC holdings in the U.S. ETF market will surpass Satoshi Nakamoto's holdings."
However, Balchunas also emphasized that "this could happen at any time and could be as early as October this year."
As the first miner on the Bitcoin network, Satoshi Nakamoto is widely believed to hold around 1 to 1.1 million BTC, spread across over 20,000 wallets, and these Bitcoins have never been transferred for decades.
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On the other hand, BlackRock's IBIT, as the largest Bitcoin ETF by scale, manages over $20.36 billion in Bitcoin and has become a leader in the market.
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