The concentration of Bitcoin is taking shape. Based on on-chain data analysis, the control exerted by major institutions and organizations over BTC is noteworthy.
Specifically, publicly listed companies currently hold approximately 1.07 million BTC; national governments reserve about 620,000 BTC; the US spot Bitcoin ETF is growing rapidly, accumulating up to 1.31 million BTC; and exchanges hold the largest amount, around 2.94 million BTC.
These four major types of holders collectively control 5.94 million Bitcoins, accounting for nearly 30% of the total circulating supply on the network — specifically, 29.8%. What does this proportion imply? Liquidity is concentrated in a few players, and market pricing power is increasingly shifting towards institutions. Whether it's ETF adoption, government strategic reserves, or exchange clearing rights, all are shaping the future trend of BTC.
This page may contain third-party content, which is provided for information purposes only (not representations/warranties) and should not be considered as an endorsement of its views by Gate, nor as financial or professional advice. See Disclaimer for details.
7 Likes
Reward
7
5
Repost
Share
Comment
0/400
quiet_lurker
· 8h ago
Oh no, we're really about to get cut, and retail investors are still sleepwalking.
View OriginalReply0
TheMemefather
· 8h ago
That's why it's becoming increasingly difficult for retail investors. 29.8% is controlled by the big players, and we don't even get a sip of the soup.
View OriginalReply0
YieldWhisperer
· 8h ago
nah wait, let me actually run the numbers here... 29.8% sounds scary until you realize the other 70% is still out there. exchange custody being the biggest chunk doesn't even surprise me anymore, saw this exact consolidation pattern back in 2017 too
Reply0
Layer2Arbitrageur
· 8h ago
honestly the 29.8% figure is doing some heavy lifting here... but have you actually run the math on exchange custody vs actual circulating supply? because those CEX bags aren't all liquid and you know it. the real arbitrage window is in how governments and ETFs move differently — one's locked in strategic holdings, the other's chasing yield. very different delta profiles imo.
Reply0
YieldFarmRefugee
· 8h ago
Hmm... 2.94 million tokens on the exchange. That number just doesn't seem right.
The concentration of Bitcoin is taking shape. Based on on-chain data analysis, the control exerted by major institutions and organizations over BTC is noteworthy.
Specifically, publicly listed companies currently hold approximately 1.07 million BTC; national governments reserve about 620,000 BTC; the US spot Bitcoin ETF is growing rapidly, accumulating up to 1.31 million BTC; and exchanges hold the largest amount, around 2.94 million BTC.
These four major types of holders collectively control 5.94 million Bitcoins, accounting for nearly 30% of the total circulating supply on the network — specifically, 29.8%. What does this proportion imply? Liquidity is concentrated in a few players, and market pricing power is increasingly shifting towards institutions. Whether it's ETF adoption, government strategic reserves, or exchange clearing rights, all are shaping the future trend of BTC.