BlackRock Nears Satoshi’s Bitcoin Stash as IBIT Hits 700,000 BTC | US Crypto News

Welcome to the US Crypto News Morning Briefing—your essential rundown of the most important developments in crypto for the day ahead.

Grab a coffee because something quietly massive is happening in the background. BlackRock is closing in on a milestone that could rewrite Bitcoin (BTC) ownership history. With steady accumulation through its ETF (exchange-traded funds), the asset management titan is approaching Satoshi Nakamotos legendary wallet as the single largest holder of Bitcoin on the planet.

Crypto News of the Day: BlackRock is 62% Away from Surpassing Satoshis Bitcoin Stash

BlackRocks spot Bitcoin ETF, IBIT, has reached a new milestone, accumulating 700,000 BTC.

Lauding this momentum, ETF analyst Eric Balchunas indicates that this puts the worlds largest asset manager within striking distance of overtaking Satoshi Nakamoto as the largest single holder of Bitcoin.

“BlackRock holds 700,000 BTC now, and is 62% of the way there to passing Satoshi as worlds largest single holder of bitcoin,” wrote Balchunas.

Satoshi‘s estimated holdings stand at roughly 1.1 million BTC, untouched since Bitcoin’s inception. At its current clip, gobbling up 40,000 BTC per month, or about 1,300 BTC daily, IBIT is now 62% there.

If the pace holds, IBIT is on track to surpass Satoshi by May 2026, just two years after its launch. That fast growth makes IBIT the youngest member among the top 25 largest ETFs globally by assets under management, at only 1.4 years old.

BlackRocks IBIT is the fastest-growing ETF in history. Source: Bitcoin Magazine, which cited Bloomberg

Recently, Balchunas highlighted IBIT as BlackRocks third-highest revenue-generating ETF out of 1,197 funds, and it is only $9 billion away from being the first.

$IBIT is now the 3rd highest revenue-generating ETF for BlackRock out of 1,197 funds, and is only $9b away from being #1. Just another insane stat for a 1.5yr old (literally an infant) ETF. Here's Top 10 list for BLK (aside, how about the forgettable $IWF at top spot, who knew？)

BeInCrypto reported that IBIT had already become BlackRocks most profitable ETF by fee revenues, overtaking its $624 billion S&P 500 fund (IVV).

With Bitcoin trading over $108,000, institutional appetite remains high, and BlackRock is leading the charge.

Bitcoin (BTC) Price Performance. Source: BeInCrypto

While ETF providers have already collectively surpassed Satoshis stash, IBIT may soon hold that title individually. Such a milestone would add to the growing dominance of BlackRock in the crypto investment arena.

However, while .

There once was a dream that was Bitcoin… this is not it.

ETFs

MSTR

Blackrock

Governments

“Institutional grade” custodians pic.twitter.com/NuFwvq6mJD

— Hodlorado (@hodlorado) December 2, 2024

In the same tone, others also see rising institutional dominance as a detractor for Bitcoin volatility, with annualized realized volatility decreasing since 2018.

“I still wish Bitcoin never got an ETF. It moves slower than most stocks and has lost its appeal to trade. We replaced exciting volatility with boring stability, just what the suits and institutions wanted,” analyst IncomeSharks said recently.

Notwithstanding, Bitcoins largest holders are no longer pseudonymous coders but Wall Street giants.

In a related development, reported in a recent US Crypto News publication, Bitwise CIO Matt Hougan predicted an explosive second half (H2) of the year for Ethereum ETFs.

The Bitwise executive forecasted up to $10 billion in inflows into Ethereum ETFs in H2 2025.

Chart of the DayTop Bitcoin Holders in the World. Source: Eric Balchunas on XByte-Sized Alpha

Heres a summary of more US crypto news to follow today:

• Experts predict public companies could soon buy up all newly issued ETH since The Merge.
• Japans 30-year bond yield breaches 3%—is this the black swan for Bitcoin？
• Bit Digital sells Bitcoin for Ethereum, and the stock jumps 18% after the strategic shift.
• Crypto giants seek banking licenses: A betrayal of decentralization or a natural evolution？
• EU approves 53 crypto firms under MiCA while Tether and Binance miss out.
• Ethereum (ETH) is rising, but on-chain indicators say $5,000 can wait.
• Sei Network sets new record as TVL soars over $626 million.
• Why Europe is key for Gemini in 2025 — Mark Jennings points to the UK, France, and Italy.

Crypto Equities Pre-Market Overview

Crypto equities market open race: Google Finance

The post BlackRock Nears Satoshis Bitcoin Stash as IBIT Hits 700,000 BTC | US Crypto News appeared first on BeInCrypto.