US Bitcoin ETFs now hold more BTC than Satoshi Nakamoto
2024-12-06

United States spot Bitcoin exchange-traded funds (ETF) have hit a new milestone as their total BTC holdings flip those held by Satoshi Nakamoto.
Following the historic launch of spot Bitcoin ETF trading in the US in January, Bitcoin ETFs have, for the first time, surpassed 1.1 million BTC, Bloomberg ETF analyst Eric Balchunas wrote on X on Dec. 6, citing market watcher Shaun Edmondson.
“The US spot ETFs have just passed Satoshi in total Bitcoin held, now hold more than 1.1 million, more than anyone in the world, and they’re not even a year old yet, literally babies still. Mind-blowing,” Balchunas said.
Data from Bitcoin ETF observer HODL15Capital confirms Edmondson’s insights, indicating that spot Bitcoin ETFs held as much as 1,103,965 BTC as of Dec. 5.
How much Bitcoin does Satoshi hold?
Satoshi Nakamoto is the anonymous creator of Bitcoin, who initiated the first BTC transaction back in January 2009.
Apart from creating Bitcoin, Nakamoto is known as one of the largest holders of Bitcoin, with analysts estimating there are around 1.1 million BTC in Nakamoto-associated addresses, or 5.2% of the total 21 million BTC supply.
According to data cited by Balchunas, the current combined Bitcoin holdings by US spot Bitcoin ETFs now exceed those by the global crypto exchange Binance by 42%. They also now hold 63% more Bitcoin than is held by MicroStrategy, one of the largest corporate holders of BTC.
Mike Novogratz says Nakamoto is no longer alive
While some crypto investigators like HBO have been trying to de-anonymize Nakamoto’s entity for years, some believe that the mysterious Bitcoin creator is no longer alive.
Mike Novogratz, CEO of the crypto investment firm Galaxy Digital — which also operates its spot Bitcoin ETF — expressed confidence that Nakamoto isn’t alive in a CNBC interview on Dec. 5.
“If Satoshi was alive — cause I don’t think he is — I’m sure that he’d have a big smile on his face,” Novogratz said, referring to Bitcoin breaking past $100,000 for the first time in history on Dec. 5.