Bitcoin Analyst PlanB Moves Entire BTC Holdings to Spot ETFs for “Peace of Mind”
Prominent Bitcoin analyst PlanB has disclosed that he has shifted his entire Bitcoin portfolio from self-custody to spot Bitcoin exchange-traded funds (ETFs). In a Feb. 15 post on X, he explained that this move allows him to manage his Bitcoin holdings similarly to traditional financial assets like equities and bonds. “I guess I am not a maxi anymore,” PlanB remarked, referring to Bitcoin maximalists who advocate for full self-custody of BTC. He claimed that ETFs offer a convenient alternative, reducing the complexities and risks associated with holding private wallet keys.
Avoiding the Risks of Self-Custody
One of the key reasons behind PlanB’s decision is the security challenge of managing private keys. “Not having to hassle with keys gives me peace of mind,” he stated. While Bitcoin proponents stress the importance of users retaining full control over their assets, self-custody comes with significant responsibilities, including protecting private keys from theft, hacking, or accidental loss. According to on-chain security firm Cyvers, crypto-related hacks surged in 2024, with over $2.3 billion stolen across 165 incidents—a 40% increase compared to 2023. Such risks have led some investors to seek safer, more regulated alternatives like Bitcoin ETFs. PlanB’s decision sparked mixed reactions from his 2 million followers. Some supported his pragmatic approach, while others questioned the move, arguing that ETFs contradict the core principle of Bitcoin ownership—decentralization and self-sovereignty. “In my view, ETFs are a logical step in Bitcoin adoption, next to holding your own keys,” PlanB wrote in response to criticism. He also posed a question: “Would it be different in your opinion if I had bought [Micro]Strategy instead of an ETF, or would that be equally evil?”
Some followers speculated whether PlanB’s ETF transfer could result in a taxable event. However, the analyst clarified that under the Netherlands’ tax system, selling Bitcoin does not trigger capital gains tax. Instead, Dutch residents are subject to an unrealized capital gains tax—commonly known as a wealth tax—where a presumed 6% return on total wealth is taxed at roughly 30%, amounting to around 2% of net assets annually.
Bitcoin ETFs Expected to See $50B in 2025 Inflows
Meanwhile, spot Bitcoin ETFs continue to see strong demand. Bitwise investment chief Matt Hougan predicted that U.S. spot Bitcoin ETFs could attract over $50 billion in inflows in 2025. “So far, so good: Spot Bitcoin ETFs pulled in $4.94 billion in January, which annualizes to ~$59 billion,” Hougan wrote on Feb. 11. His forecast aligns with Bitwise’s research head Ryan Rasmussen, who previously projected that ETF inflows in 2025 would surpass those of 2024. As of now, Bitcoin is trading around $97,500, largely flat over the past day. According to analysts, a breakout above $98,700-$100,000 with volume confirmation could push BTC towards $103,900, and if momentum persists, a retest of $110,000 is plausible.