Bloomberg ETF analyst Eric Balchunas predicted that by December, US spot Bitcoin exchange-traded funds (ETFs) BTC holdings may eclipse these of Satoshi Nakamoto.
Balchunas steered that at their present accumulation tempo — roughly 17,000 BTC weekly — the ETFs could surpass 1 million BTC subsequent week. This places them on monitor to outpace Nakamoto’s holdings, estimated to be round 1.1 million BTC, as early as December.
The current influx into spot BTC ETFs provides weight to this forecast. Over the previous 12 buying and selling days, these ETFs have attracted near $4 billion, with BlackRock’s iShares Bitcoin Belief ETF (IBIT) alone pulling in round $2.6 billion.
Regardless of the spectacular strikes, Balchunas famous that the unpredictability within the crypto market may impression the timeline. He added that regardless of the opportunity of surprising occasions, like a selloff, leading to delays, the funds’ progress stays on an upward trajectory.
He said:
“Something can occur, e.g., a violent selloff, and all that is delayed albeit nonetheless inevitable. On the flip, if costs hold going up, Trump wins, we may see FOMO may kick in, and all of it occurs quicker.”