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 nearing Satoshi Nakamoto’s 1.1M BTC holdings, indicating a shift in institutional dominance in the crypto market.
BlackRock’s iShares Bitcoin ETF (IBIT) has made a significant mark in the cryptocurrency market. The ETF currently holds more than 500,000 Bitcoin (BTC), securing its position as the third-largest Bitcoin holder in the world.
BlackRock’s Rapid Accumulation
With holdings valued at around $48 billion, BlackRock has acquired 2.38% of Bitcoin’s total supply in just 233 trading days since the launch of IBIT. This ETF provides investors with simplified access to Bitcoin, bypassing the complexities of direct ownership and affirming BlackRock’s commitment to promoting institutional Bitcoin adoption.
Satoshi Nakamoto, Bitcoin’s elusive creator, remains the largest individual holder of the cryptocurrency, with an impressive 1.096 million BTC. However, U.S. spot Bitcoin ETFs, which surpassed MicroStrategy’s holdings earlier this year, are now just 13,000 BTC away from matching Nakamoto’s holdings. This development highlights the increasing influence of institutional investors in reshaping the Bitcoin landscape.
Spot Bitcoin ETFs Close to Milestone
Spot Bitcoin ETFs are fast approaching a significant milestone, with total holdings reaching 1.083 million BTC after a $353.67 million inflow on December 2nd. According to data from Sosovalue, these ETFs would need an additional $1.23 billion inflow at current market prices to match Nakamoto’s 1.1 million BTC holdings.
Despite the optimism surrounding the institutional adoption of Bitcoin, some critics in the crypto community express concerns over potential centralization. They argue that entities like BlackRock could undermine the principles of decentralization that Bitcoin was built upon.
Shift in Bitcoin Holdings
Recent 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 secured its position as the second-largest corporate Bitcoin holder.
This growing competition underscores the accelerating adoption of Bitcoin among both institutional investors and corporate entities. At the time of writing, Bitcoin was trading at $96,635.38 after a 1.35% increase in the past 24 hours.
