Satoshi Nakamoto Could Soon Be Surpassed By BlackRock, Grayscale As Top Bitcoin Holder

Bitcoin ETFs are edging closer to becoming the largest collective holder of Bitcoin BTC/USD, potentially surpassing Satoshi Nakamoto's legendary holdings.

What Happened: According to the latest data, U.S.-based Bitcoin ETFs now collectively hold 995,663 BTC—putting them within reach of Satoshi's estimated 1.1 million BTC stash.

This rapid accumulation places ETFs on the brink of becoming the largest single grouping of Bitcoin ownership in the world.

Bloomberg Senior ETF Analyst Eric Balchunas emphasized the speed at which ETFs are amassing Bitcoin.

"Good chance to pass 1 million today… Legit shot to get to Satoshi by end of Nov,” Balchunas said on X.

As the ETF holdings surge, here's a breakdown of the top Bitcoin holders as of Oct. 29:

1. Satoshi Nakamoto – 1.1 million BTC
2. Binance – 667,526 BTC
3. BlackRock – 417,093 BTC
4. Grayscale (GBTC & Mini Trust) – 254,845 BTC
5. MicroStrategy – 252,220 BTC
6. U.S. Government – 203,239 BTC
7. Chinese Government – 194,000 BTC
8. Fidelity – 188,420 BTC
9. Bitfinex – 187,184 BTC
10. Kraken – 167,627 BTC
11. Block One – 164,000 BTC
12. Robinhood – 139,319 BTC

The collective ETF holdings, already significant, are inching toward dominance in Bitcoin's ownership landscape.

Also Read: Gary Gensler’s Ex-SEC Colleague Says Restrictive Crypto Regulation Is Like ‘Stifling Electricity Because Of A Stake In Oil Lamps’

Grayscale's Bitcoin Trust GBTC and Mini Trust BTC contribute heavily to ETF holdings, with over 254,845 BTC, while BlackRock’s ETF IBIT—having made a notable entry into the market—controls around 417,093 BTC.

This growing concentration of Bitcoin within institutional vehicles like ETFs signifies the accelerating institutional adoption of Bitcoin as a core asset class.

With major entities like MicroStrategy MSTR, the U.S. Government and Fidelity also maintaining substantial BTC reserves, Bitcoin's position in the financial system is evolving from a niche asset to a mainstream investment.

The trend raises questions about the implications of institutional control over Bitcoin's circulating supply.

As ETFs accumulate more Bitcoin, their influence over market dynamics could increase, potentially reshaping liquidity and volatility patterns.

What’s Next: The upcoming Benzinga Future of Digital Assets event on Nov. 19 is expected to address these shifts, spotlighting the role of institutional Bitcoin adoption and its impact on market structure.

Read Next:

• JD Vance’s Interview With Joe Rogan Will Likely Mention The CIA, JFK And One Other Controversial Topic, Polymarket Traders Speculate

Image: Shutterstock