Institutional holdings account for nearly 20%, and ETFs and government wallets are also quietly accumulating assets; this liquidity is becoming increasingly concentrated.

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CoinNetwork
Crypto News, institutional entities currently hold approximately 3.88 million Bitcoin, about 18.5% of the total 21 million hard cap. Among them, publicly listed companies hold about 1.24 million Bitcoin (5.9%), slightly ahead of all other categories, with strategic investments holding approximately 844,000 Bitcoin (4%). ETFs follow closely, holding about 1.32 million Bitcoin (6.3%), with BlackRock's IBIT accounting for around 811,000. Various governments also hold about 650,000 Bitcoin (3.1%).
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