Bitcoin ETFs are closing in on Satoshi’s stock: Over $20 billion since launch

The success of the Spot Bitcoin ETFs is enormous. Since their launch in January 2024, Bitcoin ETFs have raised more than $20 billion in capital in the United States. In total, the ETFs now own 967,459 BTC, almost as much as Satoshi Nakamoto’s 1.1 million Bitcoin.

ETFs are eating up all the Bitcoin

If Bitcoin ETFs in America continue this way, it will be a matter of weeks before they surpass Satoshi Nakamoto’s stock. That in itself is a special development, because hardly anyone would have dared to dream that the Bitcoin ETFs could provide such gigantic capital inflows in their first year.

The second largest “Bitcoin stock” is owned by Binance. Although Binance is of course an exchange. They will not hold most of that Bitcoin for themselves, but for the customers.

BlackRock is the largest provider of ETFs with 396,922 Bitcoin, which it manages on behalf of its clients.

After several months of sideways price action after the all-time highs of March 2024, the ETFs did less well, but the tide is now starting to turn again and the billions are flowing in again. For example, on October 14, the ETFs briefly raised $555 million in Bitcoin.

In total, the ETFs saw an inflow of $2.1 billion last week. In that respect, these are truly gigantic amounts of money.

Positive week for the Bitcoin ETFs

The Bitcoin ETFs have also been moving in the right direction in recent days. Only on October 22nd did they see a net outflow of $79.1 million, while the other days all ended with inflows of over $100 million.

As you can see, BlackRock manages $23.695 billion worth of Bitcoin and Fidelity has already added $10.319 billion worth of Bitcoin since launch.

In that respect, things are really moving in the right direction for the Bitcoin ETFs. Only the Grayscale ETF is doing slightly less with an outflow of $20.062 billion since its launch in January.

Part of that capital will also have ended up with other providers, because investors there can benefit from lower management fees.