The landscape of digital asset ownership is undergoing a seismic shift. Spot Bitcoin exchange-traded funds (ETFs) in the United States are rapidly closing in on a historic milestone — poised to surpass Bitcoin’s mysterious creator, Satoshi Nakamoto, as the world’s largest holder of BTC by the end of 2025.
Since their official launch in January 2025, U.S.-listed spot Bitcoin ETFs have amassed an astonishing 1.081 million Bitcoin, according to data from prominent crypto analyst HODL15Capital. This brings them within striking distance of Satoshi Nakamoto’s long-estimated stash of approximately 1.1 million BTC — believed to be mined during Bitcoin’s earliest days.
The Rise of Institutional Bitcoin Ownership
Satoshi Nakamoto, the pseudonymous inventor of Bitcoin, remains one of the most enigmatic figures in financial history. Though their true identity is unknown, it's widely accepted that they hold roughly 5.68% of Bitcoin’s total fixed supply of 21 million. At current market valuations, this hoard exceeds $100 billion, making Satoshi — if still active and a single entity — one of the wealthiest individuals globally.
Yet, for the first time, a collective financial vehicle is on the verge of overtaking this legendary accumulation.
Eric Balchunas, Senior ETF Analyst at Bloomberg, recently highlighted that U.S. spot Bitcoin ETFs are now 98% of the way to surpassing Satoshi’s holdings. With consistent daily inflows averaging hundreds of thousands of dollars, Balchunas predicts the crossover could occur as early as Thanksgiving 2025.
“US spot ETFs now 98% of the way there to passing Satoshi as world’s biggest holder. My over/under date of Thanksgiving looking good. If next 3 days are like the past 3 days flow-wise it’s a done deal,” Balchunas stated.
This momentum reflects growing institutional confidence in Bitcoin as a legitimate asset class. The recent approval of options trading on major Bitcoin ETFs — including BlackRock’s iShares Bitcoin Trust (IBIT) — has further expanded access for hedge funds, pension managers, and other sophisticated investors seeking exposure with advanced risk management tools.
👉 Discover how institutional adoption is reshaping Bitcoin's future.
Accelerated Inflows Signal Market Maturation
Recent data from SoSoValue reveals a dramatic acceleration in capital inflows. Over the last five trading days alone, spot Bitcoin ETFs attracted nearly **$3.3 billion** in net investments — a 97% week-over-week increase. BlackRock’s IBIT led the charge, accounting for $2 billion of that total.
This surge underscores a broader trend: regulated, accessible investment vehicles are becoming the preferred gateway to Bitcoin for mainstream investors. Unlike direct custody, which involves managing private keys and security infrastructure, ETFs offer simplicity, liquidity, and integration into traditional brokerage accounts.
As more investors opt for this streamlined approach, the pace of accumulation shows no signs of slowing. With such strong demand, analysts believe these funds could not only eclipse Satoshi’s holdings but also challenge established asset classes like gold.
Bitcoin ETFs vs. Gold ETFs: A New Financial Benchmark
While gold has long reigned as a store of value, Bitcoin ETFs are quickly closing the gap in terms of total assets under management (AUM). Currently, gold ETFs hold around $120 billion** in AUM. In contrast, U.S. spot Bitcoin ETFs have reached **$107 billion, according to Balchunas.
At this rate, many experts project that Bitcoin ETFs will overtake gold ETFs in AUM by Christmas 2025 — a symbolic moment marking digital scarcity’s ascent against traditional precious metals.
This shift does not imply gold’s decline but rather signals diversification in what modern investors consider “hard assets.” With Bitcoin’s fixed supply cap of 21 million coins and increasing macroeconomic uncertainty, many view it as digital gold — now with Wall Street-approved access points.
Market Performance and Broader Implications
Bitcoin’s price performance in 2025 has been nothing short of extraordinary. Since January, BTC has surged nearly 160%, trading close to the psychologically significant $100,000** mark. Its market capitalization now stands at **$1.91 trillion, exceeding that of silver and even surpassing major global corporations like Saudi Aramco.
Despite this growth, Bitcoin still trails far behind physical gold, which maintains a total market value exceeding $18 trillion. However, its rapid adoption through regulated financial products suggests a fundamental shift in perception — from speculative digital token to core portfolio holding.
👉 See how Bitcoin is evolving into a mainstream financial asset.
Frequently Asked Questions (FAQ)
Q: Who is Satoshi Nakamoto?
A: Satoshi Nakamoto is the pseudonymous creator of Bitcoin, who published the original whitepaper in 2008 and mined the first block (the genesis block). Their true identity remains unknown.
Q: How much Bitcoin does Satoshi actually own?
A: It's estimated that Satoshi controls around 1.1 million BTC, mined during Bitcoin’s early network phase when mining difficulty was minimal and participation low.
Q: Can anyone spend Satoshi’s Bitcoin?
A: Technically yes — if someone possesses the private keys. However, none of these coins have moved since they were mined, fueling speculation about whether Satoshi is still active or even alive.
Q: Are spot Bitcoin ETFs safe for retail investors?
A: Yes, spot Bitcoin ETFs are regulated by the SEC and provide exposure to real Bitcoin without requiring users to manage private keys or wallets. They trade like stocks on major exchanges.
Q: What triggered the recent surge in ETF inflows?
A: The introduction of options trading on major ETFs like IBIT has attracted institutional investors seeking hedging strategies and leverage opportunities.
Q: Will Bitcoin ever fully replace gold as a store of value?
A: While unlikely to fully replace gold, Bitcoin is increasingly seen as a complementary asset — particularly among younger investors and institutions looking for inflation-resistant assets with higher growth potential.
The rise of spot Bitcoin ETFs marks a turning point in financial history. For decades, wealth preservation meant gold bars and vaults. Today, it increasingly means regulated digital asset funds accessible from any brokerage app.
As these ETFs approach — and may soon surpass — even the most iconic holder of Bitcoin, they solidify crypto’s place in the mainstream economy.