It took ten years after the first spot Bitcoin exchange-traded fund (ETF) application was filed for the U.S. Securities and Exchange Commission (SEC) to finally approve spot Bitcoin ETFs on January 10, 2024. Now four months later, Bitcoin ETFs are holding more than one million bitcoins.
#Bitcoin held by 28 Spot ETFs is approaching 1 Nakamoto. pic.twitter.com/itDyQm2agx
— Michael Saylor⚡️ (@saylor) May 25, 2024
One million bitcoins is dubbed as “1 Nakamoto” after creator Satoshi Nakamoto, who is estimated to have mined around one million bitcoins in 2010. That puts Bitcoin ETF holdings at nearly 5% of the total bitcoin supply, with only 21,000,000 bitcoins to ever exist.
Top Bitcoin ETF holders include Grayscale Bitcoin (GBTC), Blackrock iShares Bitcoin (IBIT), Fidelity WiseOrigin Bitcoin (FBTC), Ark 21Shares Bitcoin (ARKB), and Bitwise Bitcoin ETF (BITB). There is no doubt the major financial companies are all in on Bitcoin.
