US Bitcoin ETFs hold 924,768 BTC closing in on Satoshi’s stash

Since January 11, 2024, twelve U.S. spot Bitcoin (CRYPTO:BTC) exchange-traded funds (ETFs) have accumulated 924,768.09 BTC.

According to reports, this figure is steadily approaching the 1 million BTC held by Bitcoin's pseudonymous creator, Satoshi Nakamoto.

These ETFs now control about 4.68% of the total Bitcoin supply, valued at over $60 billion based on current market rates.

One of the largest contributors to this accumulation is Blackrock’s IBIT ETF, which holds 365,310.38 BTC, accounting for 1.85% of all Bitcoin in circulation and 39.5% of the total Bitcoin held by these funds.

Grayscale's GBTC follows, managing 220,820.34 BTC, or 23.88% of the total held by the ETFs.

This represents a significant drop from its original 620,000 BTC, with $20 billion worth of Bitcoin flowing out of Grayscale’s trust.

Other ETFs include Fidelity’s FBTC, which holds 178,334.14 BTC, amounting to 0.90% of the global supply.

Ark Invest and 21shares’ ARKB fund holds 47,599 BTC, while Bitwise’s BITB ETF holds 39,588.07 BTC.

Grayscale’s Bitcoin Mini Trust controls 33,752.77 BTC.

Vaneck’s HODL and Valkyrie’s BRRR hold smaller reserves, with Vaneck managing 11,482.53 BTC and Valkyrie 8,982.53 BTC.

Other ETFs, such as Invesco and Galaxy’s BTCO, Franklin Templeton’s EZBC, Wisdomtree’s BTCW, and Hashdex’s DEFI, hold smaller amounts, ranging from 7,941 BTC to just 148 BTC.

Based on current accumulation rates, these funds could surpass the 1 million BTC mark within the next 35 days.

However, fluctuations in trading and potential inflows or outflows could impact this timeline, though the milestone is expected to be crossed in 2024.

At the time of writing, the Bitcoin price was $65,521.13.