NewsletterBlackRock Bitcoin ETF To Overtake Satoshi Nakamoto’s BTC Holdings Next Summer
Highlights
- Bloomberg analyst Eric Balchunas suggests this timeline could accelerate if Bitcoin rallies to $150,000.
- BlackRock Bitcoin ETF (IBIT) has recorded inflows for 24 of the past 25 trading sessions.
- Blackstone recently disclosed ownership of 23,094 shares in BlackRock's Bitcoin ETF as of March 31.
BlackRock Bitcoin ETF has been single-handedly dominating the ETF market, clocking another $287.5 million in inflows on Tuesday. With over $46 billion in flows since inception in January 2024, Bloomberg Senior ETF Analyst Eric Balchunas believes that the asset manager will overtake Satoshi Nakamoto’s BTC holdings by next summer. Furthermore, if the Bitcoin price rallies to $150K, BlackRock can attain this milestone even faster.
BlackRock Poised to Overtake Satoshi Nakamoto in BTC Holdings
Eric Balchunas pointed out that BlackRock is now the second-largest Bitcoin holder globally, trailing only the pseudonymous BTC creator Satoshi Nakamoto. According to Balchunas, if the BlackRock Bitcoin ETF continues to accumulate at this rate, it could become the largest Bitcoin holder by next year’s summer.
Balchunas speculated that if Bitcoin reaches $150,000 in the coming months, it could spark a “feeding frenzy” among financial advisors. With massive Bitcoin ETF inflows recently, BlackRock knocked off Binance for the second spot as per the above image. Adding further to his commentary on this development, Balchunas wrote:
“And yes this list can be debated given the role of custodians like coinbase, we get it, the bigger point worth being made here is JUST HOW FAST BLACKROCK IS PAC-MAN-ING UP THE BTC, or rather their investors are as their holdings represent millions of ppl”.
BlackRock Bitcoin ETF Is Unstoppable
With inflows registered for 24 out of the past 25 trading sessions, BlackRock Bitcoin ETF (IBIT) has been single-handedly rising the ETF inflows over the past month. Data from Thomas Fahrer shows that IBIT netted a total of 2705 BTC worth $287.5 million in inflows, which was ten times of its immediate competitor, Fidelity’s FBTC, which saw $23 million in inflows.
With this, BlackRock’s IBIT has hit another milestone of crossing $46 billion in inflows since its inception. As a result, the total holding of the iShares Bitcoin Trust has now surged to 639,000.
Some of the biggest holders of IBIT shares in the market include financial giants like Goldman Sachs. In the latest development, $1 trillion asset manager Blackstone declared ownership of 23,094 shares in BlackRock Bitcoin ETF as of March 31, according to a recent disclosure.
The Bitcoin price is also showing strength, gaining another 1.2% today and surging past $107,000. Market experts believe that if this momentum continues further, we could be seeing fresh all-time highs by this weekend.
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