Panama Supreme Court Voids Hong Kong Firm’s Panama Canal Port Contracts Over Constitutional Violations 
Nvidia Confirms Major OpenAI Investment Amid AI Funding Race 
Meta Faces Lawsuit Over Alleged Approval of AI Chatbots Allowing Sexual Interactions With Minors 
Elon Musk’s Empire: SpaceX, Tesla, and xAI Merger Talks Spark Investor Debate 
Sandisk Stock Soars After Blowout Earnings and AI-Driven Outlook 
American Airlines Plans Return to Venezuela Flights After U.S. Lifts Ban 
Amazon Stock Dips as Reports Link Company to Potential $50B OpenAI Investment 
FxWirePro- Major Crypto levels and bias summary 
Microsoft AI Spending Surge Sparks Investor Jitters Despite Solid Azure Growth 
Pentagon and Anthropic Clash Over AI Safeguards in National Security Use 
SpaceX Seeks FCC Approval for Massive Solar-Powered Satellite Network to Support AI Data Centers 
SpaceX Updates Starlink Privacy Policy to Allow AI Training as xAI Merger Talks and IPO Loom 
C3.ai in Merger Talks With Automation Anywhere as AI Software Industry Sees Consolidation 
Google Halts UK YouTube TV Measurement Service After Legal Action 
With 4.68% of Bitcoin’s total supply now under their control, Bitcoin ETFs are set to topple Satoshi Nakamoto’s legendary $68.2 billion BTC holdings this month, marking a monumental moment for the crypto world.
Bitcoin ETFs Near Satoshi Nakamoto’s $68 Billion Mark
Bitcoin exchange-traded funds (ETFs) currently own $57.73 billion worth of Bitcoin, or 4.68% of the entire supply, as reported by SoSoValue, a leading financial research forum. With $22.91 billion in net assets, Bitcoin ETFs hold the largest portion of BTC supply among these funds. Substantial capital has been poured into these funds since their inception in January of this year.
If the current inflows continue, these Spot Bitcoin ETFs will surpass Satoshi Nakamoto's holdings this month, as projected in August by Bloomberg analyst Eric Balchunas. The value of Satoshi's Bitcoin assets is estimated to be 1.1 million BTC, or $68.2 billion.
Institutional Investors Power Bitcoin’s Rise
Balchunas made an interesting prediction: by the end of next year, institutional investors might have more Bitcoin than Satoshi. If they succeed in surpassing the Bitcoin creator, it could cement their control over the market for the foreseeable future.
The current uptick in capital flows into the Spot Bitcoin ETFs is indicative of the increasing power of institutional investors in the Bitcoin market. Bitcoin is favored by institutional investors due to its promising future.
Record-Breaking Inflows Drive Bitcoin ETF Growth
Investment banks like Goldman Sachs and Morgan Stanley have stepped up their involvement, significantly increasing their holdings in Bitcoin-related exchange-traded funds (ETFs), Coingape shares.
Inflows and share price performances of Bitcoin ETFs have been significantly greater than anticipated since their introduction. These exchange-traded funds set a new record for the most money ever received by an ETF on its first day, with a combined total of almost $4 billion.
Will Satoshi’s Legendary Holdings Be Overtaken?
Despite the unpredictable market conditions this year, investors have invested a whopping $17.5 billion into Spot Bitcoin ETFs. As an example, consider the iShares Bitcoin Trust (IBIT), the fastest-growing exchange-traded fund (ETF) ever, with $21.5 billion in assets after only seven months of operation.
