Inflows into U.S. spot Bitcoin ETFs have surged, bringing their holdings closer to the stash attributed to Bitcoin's founder, Satoshi Nakamoto.
Growing Inflows into Spot ETFs
According to data from SoSoValue, the 12 spot Bitcoin ETFs recorded $675.97 million in inflows on December 3, nearly doubling the $353.67 million added the previous day. These investment vehicles have enjoyed four consecutive days of net inflows, totaling over $1.45 billion. BlackRock's ETF leads with $693.25 million in inflows.
Approaching Satoshi's Stash
U.S. spot Bitcoin ETFs collectively hold 1.083 million BTC, moving closer to Satoshi Nakamoto's stash of 1.096 million BTC. These ETFs require an additional 13,000 BTC, or approximately $1.23 billion at current market prices, to overtake Satoshi as the largest holder.
Bitcoin Price Stagnation
Despite the surge in inflows, Bitcoin's price has remained relatively flat, increasing only 1.1% over the past 24 hours to $96,547 at the time of writing. This reflects investor caution as they await new catalysts for growth.
The growth in spot Bitcoin ETF inflows marks a significant step in increasing institutional interest, though Bitcoin's price remains poised for further catalysts.
