According to Bitwise data, two thirds of Bitcoin’s circulating supply belongs to private individuals, while institutions remain a minority.
According to an analysis published by Bitwise Asset Management, approximately 66% of Bitcoin’s circulating supply is held by private individuals. Institutions – funds, ETFs, listed companies and governments – control a significantly smaller share of total supply, confirming an ownership structure that remains broadly distributed among individuals.
The detailed breakdown, as described by Bitwise, places individual holders first with approximately 13.6 million BTC. Next come Bitcoin considered lost or inactive, estimated at around 3.7 million BTC, followed by reserves held by centralised exchanges, with approximately 2.9 million BTC in custody on behalf of clients. Spot Bitcoin ETFs approved in the United States stand at just under one million BTC, while listed companies and governments hold smaller shares.
