Bitcoin Handover – How Retail is Selling to Wall Street ETFs

• While retail investors still hold the majority, institutions and ETFs now control over 14% of all BTC
• This shift from early adopters to Wall Street creates a new dynamic of persistent, price-agnostic buying
• On-chain data shows Satoshi holds 4.6% of the supply, while another 7.6% of Bitcoin is lost forever

Bitcoin is moving from early believers to Wall Street. As the asset matures, a new class of owner is taking control, and this shift in who holds BTC is the most important trend for its future price. On-chain data shows exactly where the 21 million coins are.

Who Actually Holds the Most Bitcoin Today?

Most of the Bitcoin supply, nearly 13.83 million BTC (65.9%), is still in the hands of individual retail investors. This group, valued at over $1.52 trillion, represents the largest single slice of the ownership pie.

However, Wall Street and corporate America now control a combined 14% of all Bitcoin, and their share is growing rapidly:

• The new U.S. spot Bitcoin ETFs, led by BlackRock, have already bought 1.63 million BTC (7.8%).
• Corporate treasuries, with Michael Saylor’s MicroStrategy leading the charge, hold another 1.3 million BTC (6.2%).

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