Bitcoin ETFs are set to overtake Satoshi Nakamoto’s holdings and rival gold ETFs. Learn how these financial products are shaping the cryptocurrency market.
Bitcoin ETFs Close to Becoming Top Cryptocurrency Holders
Bitcoin exchange-traded funds (ETFs) are on the brink of surpassing Satoshi Nakamoto’s estimated Bitcoin holdings. According to ETF analyst Eric Balchunas, these funds have already reached 97% of this milestone. While Nakamoto is believed to hold approximately 1.1 million Bitcoins, some analysts argue this figure may be inflated.
Bitcoin ETFs vs. Gold ETFs: The Growing Competition
Bitcoin ETFs are also nearing the total holdings of gold ETFs, hitting 97% of their level. Balchunas predicts that Bitcoin ETFs could eventually triple gold ETFs due to the higher volatility and appeal of “digital gold.”
Galaxy Digital CEO Mike Novogratz has echoed this optimism, stating that Bitcoin resonates more with younger investors compared to traditional assets like gold. Novogratz anticipates Bitcoin surpassing gold’s market capitalization within the next decade.
Bitcoin ETFs: A Catalyst for Cryptocurrency Growth
Bitcoin ETFs are currently the leading drivers of growth in the cryptocurrency market. Data from crypto analytics platform SoSoValue revealed that these ETFs attracted $795 million in fresh investments on Wednesday alone, with $626 million contributed by IBIT.
This surge has pushed the total net assets of spot Bitcoin ETFs beyond $100 billion—a significant milestone for the industry.
Bitcoin Hits Record-High Price of $98,000
Bitcoin’s price reached a new peak above $98,000, as reported by CoinGecko, signaling continued bullish momentum. This price surge, alongside rising ETF inflows, highlights the increasing confidence of investors in the cryptocurrency’s long-term potential.
