Inflows into US spot Bitcoin ETFs surged more than 90% on December 3 compared to the day before, bringing their total holdings closer to matching the Bitcoin supply attributed to founder Satoshi Nakamoto.
According to facts from SoSoValue, the 12 spot Bitcoin ETFs recorded inflows of $675.97 million on Tuesday, nearly doubling the previous day’s $353.67 million. These investment vehicles have now enjoyed four consecutive days of net inflows, with a total of over $1.45 billion within that period.
BlackRock’s IBIT led the pack for the third day in a row, with $693.25 million inflows into the fund. Notably, BlackRock’s Bitcoin ETF hit a major milestone last week, surpassing 500,000 BTC in its holdings.
It now accounts for 2.38% of Bitcoin’s total supply. In less than a year since its launch, IBIT now has nearly $50 billion in assets under management, making it one of the three largest ETF launches of 2024.
Trailing behind, Fidelity’s FBTC recorded inflows of $52.17 million on the same day, followed by VanEck’s HODL and Bitwise’s BITB, which attracted $16.21 million and $7.8 million, respectively.
Not all ETFs shared in the inflow, however; 21Shares’ ARK and ARKB were the only fund to report outflows, losing $93.47 million during the day.
Despite the strong inflows, total trading volume for these ETFs fell to $2.93 billion, down significantly from the $3.91 billion recorded the day before.
I’m approaching Satoshi’s stash
These funds are approaching a historic milestone. With a combined total of 1.083 million BTC under management, US spot Bitcoin ETFs are now within striking distance of surpassing Satoshi Nakamoto’s legendary Bitcoin holdings. Nakamoto, the elusive creator of Bitcoin, is estimated to own 1.096 million BTC, representing 5.22% of the total supply ceiling.
The ETFs now need another 13,000 BTC, or about $1.23 billion at current market prices, to dethrone Satoshi as the largest holder of Bitcoin. Notably, this year the ETFs have already surpassed larger companies like MicroStrategy, which was previously surpassed in 2024.
The Bitcoin price is stagnant despite the inflows
Interestingly, despite the surge in ETF inflows, the price of Bitcoin (BTC) remained relatively flat. The top crypto asset rose just 1.1% over the past 24 hours and was trading at $96,547 at the time of writing, falling short of the long-awaited $100,000 milestone.
This sideways trading indicates that while institutional interest in Bitcoin continues to rise, the broader market remains cautious as investors await further catalysts to push the asset into uncharted territory.
