Share this article
Bitcoin ETFs Will Soon Hold 1M Tokens, Nearly as Much as Satoshi
The U.S.-based spot funds currently hold about 396,922 bitcoin altogether, with BlackRock’s iShares Bitcoin Trust soon to cross 400,000 in BTC holdings.
Updated Oct 24, 2024, 6:32 p.m. Published Oct 24, 2024, 6:29 p.m.
- Spot bitcoin exchange-traded funds will soon hold over one million BTC.
- The funds recorded one of their biggest week of inflows last week, taking in over $2.1 billion in just five days.
- BlackRock's iShares Bitcoin Trust (IBIT) could soon cross the 400,000 bitcoin mark.
The holdings of the U.S. spot bitcoin exchange-traded funds are about to cross over one million tokens after only ten months of trading.
Fueled most recently by major inflows into the funds as bitcoin rallies into the election, the ETFs, which only opened for business on Jan. 11 of this year, currently hold roughly 967,459 tokens. With just a modest continuation of inflows, they are likely to cross the one million mark in the next couple of weeks, bringing them into the territory of Satoshi Nakamoto, who owns 1.1 million tokens, per Blockchain.com data.
STORY CONTINUES BELOW
Don't miss another story.Subscribe to the Crypto Daybook Americas Newsletter today. See all newsletters
The second depository of bitcoin is Binance, which held 636,000 BTC as of Oct. 1, as laid out in its Proof of Reserves. It's likely that most of those holdings are not for the exchange's own account, but instead owned by its customers.
BlackRock's iShares Bitcoin Trust (IBIT) currently holds 396,922 BTC on behalf of clients, putting the asset management giant in third place.
Interest in the ETFs – which had waned alongside months of sideways-to-lower price action – has picked up along with bitcion, which at press time was trading close to a three-month high just shy of $68,000. Last week, the funds saw their biggest single-day inflows since early June, taking in over $555 million on Oct. 14, according to data from Farside Investors. The total amount of assets added to the funds last week was $2.1 billion, the strongest amount since March.
The largest cryptocurrency by market cap has been rallying over the last two weeks as a result of several factors, possibly among them are the apparent boosted odds of crypto-friendly Donald Trump winning the U.S. presidential election in November.
Read more: Trump's Lead Over Harris Widens on Polymarket's Prediction Market
More For You
What to know:
- As of October 2025, GoPlus has generated $4.7M in total revenue across its product lines. The GoPlus App is the primary revenue driver, contributing $2.5M (approx. 53%), followed by the SafeToken Protocol at $1.7M.
- GoPlus Intelligence's Token Security API averaged 717 million monthly calls year-to-date in 2025 , with a peak of nearly 1 billion calls in February 2025. Total blockchain-level requests, including transaction simulations, averaged an additional 350 million per month.
- Since its January 2025 launch , the $GPS token has registered over $5B in total spot volume and $10B in derivatives volume in 2025. Monthly spot volume peaked in March 2025 at over $1.1B , while derivatives volume peaked the same month at over $4B.
More For You
Coinbase Sees Crypto Recovery Ahead as Liquidity Improves and Fed Rate Cut Odds Climb
The crypto exchange also took note of a so-called AI bubble that continues to go strong and a weaker U.S. dollar.
What to know:
- Coinbase Institutional is seeing a potential December recovery in crypto, citing improving liquidity and a shift in macroeconomic conditions that could favor risk assets like bitcoin.
- The firm's optimism is driven by rising odds of Federal Reserve rate cuts, with markets pricing in a 93% chance easing next week, and improving liquidity conditions.
- Several recent institutional developments, including Vanguard's crypto ETF policy reversal and Bank of America's greenlighting of crypto allocations, have contributed to bitcoin's rebound from recent lows.
Top Stories
