Bitcoin ETFs are accumulating massive inflows, with net inflows approaching $20 billion
At press time, Bitcoin is worth $67,847 — showing great resilience amid market developments
As the Bitcoin [BTC] ETF continues its impressive streak of inflows, accumulating $253.6 million on October 11, $555.9 million on October 14, and $371 million on October 15, the momentum is evident.
Eric Balciunas' comments spark concern
Seeing this, Eric Balchunas, a well-known ETF analyst at Bloomberg, made a bold prediction.
He believes that by Christmas, the BTC ETF is expected to surpass Bitcoin’s mysterious creator Satoshi Nakamoto to become the largest holder of the flagship cryptocurrency.
“Huge flow day for Bitcoin ETF, over half a billion, total net flows (most imp numbers) very close to $20b. They are now 94% of the way to holding 1mil btc, 85% away from passing Satoshi as world’s largest holder – legitimately hitting milestone before Christmas. Ht @EdmondsonShaun.
Currently, total Bitcoin ETF holdings stand at an impressive 938,533 BTC.
How has the community responded?
According to Farside Investors, Bitcoin ETFs are approaching a major milestone of $20 billion in net inflows.
Notably, analysts believe Satoshi Nakamoto owns approximately 1.1 million BTC — a benchmark that institutional Bitcoin ETFs are rapidly approaching.
Due to rapid inflows and growing interest in these investment vehicles, it seems increasingly plausible that a BTC ETF will soon rival Satoshi’s holdings.
However, one X user painted a different picture, saying:
“There is no definitive proof that Satoshi owns 1 million BTC.”
" Another X user quickly chimed in,
“How can we have such huge inflows but such weak price action?”
However, this argument was quickly refuted by David Lawant, head of research at cryptocurrency brokerage FalconX. He claimed,
“There is a statistically significant relationship between changes in ETF flows and prices, but it is not strong. The correlation coefficient is 0.30, which means that less than 10% of the price changes can be explained by changes in net flows.
Other Bitcoin-related situations
Interestingly, just one day later, a Bitcoin whale that had been dormant during the Satoshi era resurfaced, sparking the curiosity of the crypto community.
The wallet, which first mined its coins in 2009, made waves on Oct. 14 by transferring around $630,000 worth of BTC to Kraken.
It should be emphasized that this article is for reference only and does not constitute investment advice.
