For the first time more than 1 in 10 bitcoins are controlled by institutions versus retail investors, marking a significant shift in the cryptocurrency ownership landscape, according to new analysis from Capriole.
Bitcoin’s Institutional Ownership Surpasses 10% Milestone, Analyst Says
24 July 2025 - 18:33 CEST
Research by Capriole’s Charles Edwards shows that institutions—including pension funds, asset managers, and corporate treasuries—now hold approximately 11% of all bitcoins in circulation. This represents a remarkable increase from just 4% eighteen months ago.
Edwards documented this growth in a series of charts posted on 24 July on social media platform X, drawing data from corporate treasuries, exchange-traded funds (ETFs), and other institutional sources.
Driving forces
Several factors have fueled this institutional embrace of Bitcoin:
Regulatory Clarity: Countries worldwide, including the US, have introduced more comprehensive cryptocurrency regulations, providing institutions with greater confidence to invest.
Political Support: Significant promotion of digital assets from the White House has helped legitimize cryptocurrency as an asset class.
Price Performance: Bitcoin's surge to a new all-time high above $123,000 earlier this month has attracted substantial institutional attention.
Retirement Integration: The US is preparing to allow retirement savings plans to include cryptocurrency investments, potentially opening massive new channels for institutional adoption.
ETF success
Bitcoin ETFs have emerged as a primary vehicle for institutional investment, attracting $54.83 billion in net inflows since November 1, 2024, according to Coinglass data. These funds now represent more than $150 billion in assets under management—a substantial portion of Bitcoin's $2.37 trillion total market capitalization.
Major institutional players participating include asset management giant BlackRock and Abu Dhabi's Mubadala sovereign wealth fund. However, some ETF investments are made on behalf of individual investors, which complicates the distinction between retail and institutional ownership.
Corporate Treasury Adoption
Beyond investment funds, direct corporate adoption continues to grow. According to bitcointreasuries.net, 277 companies now hold Bitcoin, with some adopting cryptocurrency purchases as their primary business strategy.
This institutional shift represents a fundamental change in Bitcoin's ownership structure, moving the cryptocurrency further into mainstream financial markets and potentially reducing its volatility as more stable, long-term holders enter the market.
