Bitcoin Supply Still Dominated by Individual Investors

New data reveals that individual investors still hold roughly two-thirds of Bitcoin supply, outpacing institutions and ETFs.

The study mapped wallets known to interact with exchanges, custodians, and large holders, showing marginal institutional and corporate holdings.

Businesses held only 7.8% of the supply, while funds and ETFs accounted for 7.2%. Satoshi-era wallets had 4.6%, and governments held just 2.1%.

The data suggests that despite institutional adoption, individuals still play a significant role in driving market prices.