Bitcoin ETFs have surpassed Satoshi in terms of BTC holdings, happy or worried?

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Bitcoin ETFs Surpass Satoshi in BTC Holdings: Happy or Worried?

Bitcoin ETFs (spot) in the US have made their mark by holding a total of more than 1.1 million BTC , surpassing the amount of Bitcoin that anonymous founder Satoshi Nakamoto is believed to own.

But is this a positive signal or a warning of the risk of centralization?

Spot ETFs “Dominate” the Bitcoin Market
Spot ETFs, which were approved by the SEC earlier this year, have quickly become the world's largest holders of Bitcoin, Bloomberg reports.

The total amount of Bitcoin in the hands of these funds now stands at 1,104,534 BTC , compared to Satoshi's roughly 1,100,000 BTC .

Eric Balchunas , ETF analyst at Bloomberg, commented:

“These funds are very new, but the growth rate is incredible.”

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BlackRock Leads the Game
Among ETFs, BlackRock , the largest asset manager globally, leads the way by holding 521,375 BTC through its iShares Bitcoin Trust (IBIT) , accounting for nearly 50% of all BTC held by ETFs.

Additionally, Hashdex ’s fund , which recently converted from a futures ETF to a Bitcoin spot ETF in March, also started with 147.85 BTC in its portfolio.

Bitcoin Hits $100,000, Controversy Arise
With Bitcoin price surpassing the historic $100,000 mark , the increase in ownership from large institutions is a testament to the growing appeal of cryptocurrencies.

However, not everyone is optimistic. Jonas Schnelli , a core developer of Bitcoin, warned:

“This is a dangerous sign. Bitcoin was created to fight against centralization of power, but this is the exact opposite of the original goal.”

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Happy or Worried?
The fact that ETFs control a large portion of Bitcoin brings two opposing perspectives:

Positive : Increases Bitcoin accessibility to large investors, promoting widespread adoption of cryptocurrencies.
Negative : Raises concerns about centralization of power, which goes against the spirit of decentralization that Bitcoin represents.
The development of ETFs may be a big step forward, but it also raises big questions about the future and true nature of the cryptocurrency market. Is this a “step back” in the journey to decentralization?

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