Key Points
- BlackRock’s iShares Bitcoin ETF (IBIT) now holds over 500,000 BTC, making it the third-largest Bitcoin holder globally.
- U.S. spot Bitcoin ETFs are closing in on Satoshi Nakamoto’s 1.1 million BTC holdings.
BlackRock’s iShares Bitcoin ETF (IBIT) has emerged as a significant player in the cryptocurrency market. It now holds over 500,000 Bitcoin (BTC), securing its place as the third-largest Bitcoin holder worldwide.
BlackRock’s Bitcoin ETF
The holdings of BlackRock are valued at approximately $48 billion, which equates to about 2.38% of Bitcoin’s total supply. This substantial accumulation has occurred within just 233 trading days since IBIT’s inception.
BlackRock, by offering an exchange-traded product (ETP), has facilitated investors’ access to Bitcoin. It has bypassed the intricacies of direct ownership and underscored its commitment to promoting institutional Bitcoin adoption.
Satoshi Nakamoto, the elusive creator of Bitcoin, remains the largest individual holder of the cryptocurrency. He holds a considerable 1.096 million BTC, which is equivalent to 5.22% of Bitcoin’s capped supply.
U.S. Spot Bitcoin ETFs
However, Nakamoto’s dominance is challenged as U.S. spot Bitcoin ETFs continue their swift accumulation. These funds have already surpassed MicroStrategy’s holdings earlier this year and are now merely 13,000 BTC away from matching Nakamoto’s significant stash. This race underlines the increasing influence of institutional investors in reshaping the Bitcoin landscape.
Spot Bitcoin ETFs are rapidly nearing a significant milestone, with total holdings reaching 1.083 million BTC after a $353.67 million inflow on 2nd December. To match Nakamoto’s 1.1 million BTC holdings, these ETFs would need an additional $1.23 billion inflow at current market prices.
Despite the optimism surrounding the institutional adoption of Bitcoin, critics within the crypto community express concerns over potential centralization. They argue that entities like BlackRock could undermine the principles of decentralization that Bitcoin was founded upon.
Bitcoin Holdings Among Major Firms
The latest filings by BitcoinTreasuries data indicate a dynamic shift in Bitcoin holdings among major corporate players. While MicroStrategy remains the largest corporate Bitcoin holder, institutional ETFs like BlackRock’s IBIT are surpassing corporate treasuries in Bitcoin accumulation.
Meanwhile, MARA Holdings has solidified its position as the second-largest corporate Bitcoin holder, amassing 34,794 BTC. This increasing competition underscores the accelerating adoption of BTC among both institutional investors and corporate entities.
Bitcoin was trading at $96,635.38 after a hike of 1.35% in the past 24 hours, according to CoinMarketCap.
