ETFs holding bitcoin are now the crypto's largest holders, surpassing creator Satoshi Nakamoto
The 12 spot bitcoin ETFs in existence have collectively passed $100 billion in assets under management, one of the most successful ETF launches in history.
Collectively, bitcoin ETFs now own more of the cryptocurrency than legendary pseudonymous founder Satoshi Nakamoto, who is believed to control as much as 1.1 million bitcoin.
"Bitcoin ETFs have become the vehicle of choice for bitcoin holders," Brian Hartigan, global head of ETFs at Invesco, said Monday on CNBC's "Halftime Report."
Here's the math: U.S. ETFs now have a little over $10 trillion in assets under management. With spot bitcoin ETFs now accounting for more than $100 billion in assets, bitcoin is now about 1% of the assets under management of the entire ETF universe.
That 1% is a significant milestone. For years, bitcoin advocates have been looking for ways to convince skeptics they should allocate a small portion of their portfolio to bitcoin.
