Bitcoin ETFs are on the rise, with projections suggesting that they could surpass the holdings of mysterious Bitcoin creator Satoshi Nakamoto by the end of the year. According to Bloomberg ETF analyst Eric Balchunas, the US spot Bitcoin exchange-traded funds have seen significant inflows, totaling around $4 billion in the last 12 trading days.
Balchunas predicts that at their current accumulation rate of approximately 17,000 BTC per week, the ETFs may reach over 1 million BTC by next week. This rapid pace could potentially outpace Nakamoto’s estimated holdings of 1.1 million BTC as early as December.
The recent surge in inflows into spot BTC ETFs has further fueled this forecast. In just over a week, these ETFs have attracted close to $4 billion, with BlackRock’s iShares Bitcoin Trust ETF (IBIT) leading the way with around $2.6 billion in inflows.
Despite these impressive figures, Balchunas warns that the volatile nature of the crypto market could impact the timeline for surpassing Nakamoto’s holdings. Unexpected events such as a sudden selloff could cause delays, but overall, the growth trajectory of these funds remains positive.
Balchunas emphasized, “Anything can happen, for example, a sudden selloff, which could delay the inevitable outcome. Conversely, if prices continue to rise and investor interest grows, we could see a surge in FOMO (fear of missing out) that accelerates the process.”
Overall, the outlook for Bitcoin ETFs is optimistic, with the potential to exceed even the legendary Satoshi Nakamoto’s BTC holdings by the end of the year. Investors and analysts will be closely monitoring the market to see how these projections unfold in the coming months.
