-- Bitcoin spot exchange traded funds will soon hold more than ONE #BTC☀ .
-- The funds recorded ONE of the largest inflows of funds last week, receiving more than $2.1 billion in just five days.
-- BlackRock's iShares Bitcoin Trust (IBIT) could soon surpass the 400,000 Bitcoin mark .
US Bitcoin exchange-traded Bitcoin -funds will soon exceed ONE million tokens in just ten months of trading.
Fueled by recent large inflows into the funds as Bitcoin ($BTC
) rises in the run-up to the election, the ETFs, which only opened on January 11 this year, currently hold around 967,459 tokens. With a small continued influx, they are likely to cross the ONE million mark in the next couple weeks, bringing them into Satoshi Nakamoto territory, who holds 1.1 million tokens, according to Blockchain.com .
The second #Bitcoin❗ depository is Binance, which held 636,000 BTC as of Oct. 1 , as listed in its Proof of Reserves . It is likely that most of these assets are not held by the exchange itself, but by its customers.
BlackRock's iShares Bitcoin Trust (IBIT) currently holds 396,922 BTC on behalf of clients, putting the asset management giant in third place.
Interest in the ETF, which has waned amid months of sideways downward price movement, has grown with bitcoin, which was trading close to a three-month high at the time of publication, just short of $68,000. Last week, funds saw their biggest one-day inflow since early June, collecting more than $555 million on Oct. 14, according to Farside Investors . Total assets added to funds last week totaled $2.1 billion, the largest amount since March.
The largest cryptocurrency by market capitalization has been rising over the past two weeks as a result of a number of factors, one of which may be the apparent increase in the chances of cryptocurrency-friendly Donald Trump winning the U.S. presidential election in November.
