by In the ever-evolving landscape of cryptocurrency, understanding the distribution of Bitcoin ownership is crucial for investors, analysts, and enthusiasts alike. A recent study conducted by River, a prominent U.S.-based Bitcoin financial services firm, reveals that while individuals still own the majority of Bitcoin, institutional players are catching up at a significant pace.
Current Bitcoin Ownership Distribution
As of August 25, 2025, River’s research indicates that individuals control approximately 65.9% of the circulating Bitcoin, which translates to about 13.83 million BTC. This category encompasses self-custodied wallets and exchange accounts that River classifies under individual ownership. The study utilizes public filings, custodial address tagging, and earlier blockchain research to provide a more accurate representation of Bitcoin ownership across various groups.
Institutional Holdings Are Growing
On the institutional side, the breakdown is equally fascinating. Bitcoin holdings are categorized into businesses, exchange-traded funds (ETFs), and investment vehicles. River estimates that businesses, which include corporate treasuries and traditional firms that publicly report their Bitcoin holdings, account for about 6.2% of the total supply, equating to approximately 1.30 million BTC.
ETFs and funds, which represent investment vehicles that manage Bitcoin for clients, control an estimated 7.8% of the supply, or 1.63 million BTC. This growing trend in institutional investment is bolstered by the increasing acceptance of Bitcoin as a legitimate asset class, particularly among corporations treating it as a balance-sheet asset.
Other Notable Categories of Bitcoin Ownership
The research also highlights the presence of governments in the Bitcoin ecosystem. According to River’s findings, governments hold about 1.5% of Bitcoin, which totals approximately 306,000 BTC. These figures are derived from tracking sovereign addresses listed in public sources.
Additionally, two special categories contribute to the overall ownership distribution: lost Bitcoin and Satoshi/Patoshi holdings. The report suggests that lost Bitcoin, which consists of coins that have not moved for many years and are likely unrecoverable, makes up about 7.6% of the supply, or 1.58 million BTC. Meanwhile, the holdings attributed to the early Bitcoin miner, Satoshi Nakamoto, are estimated to be around 4.6%, or 968,000 BTC.
Lastly, it’s important to note that about 5.2% of the Bitcoin supply, or 1.09 million BTC, has yet to be mined, as the hard cap of 21 million BTC has not yet been reached.
Understanding the Implications of Ownership Distribution
River’s research aims to illustrate the current state of Bitcoin ownership rather than predict future price movements. The estimates provided are not definitive; various factors can lead to misclassification of wallets and opaque ownership structures. However, the overwhelming conclusion is clear: while individuals continue to dominate Bitcoin holdings, the share of institutional ownership is rapidly expanding, primarily due to the rise of ETFs and the growing number of companies integrating Bitcoin into their financial strategies.
The Future of Bitcoin Ownership
The increasing institutional interest in Bitcoin could have profound implications for the market. As corporations and investment funds continue to accumulate Bitcoin, the dynamics of supply and demand may shift, potentially influencing price trends in the long term. For those looking to invest in Bitcoin or any other cryptocurrencies, understanding the current ownership landscape is essential. If you’re interested in learning how to buy Bitcoin, check out our comprehensive guide on How to Buy Bitcoin.
Furthermore, as more institutions adopt Bitcoin, questions surrounding regulatory frameworks and market stability will become increasingly pertinent. Investors should remain vigilant and keep abreast of the latest developments in Bitcoin regulations and institutional investments.
Conclusion
The findings from River’s research serve as a reminder of the evolving nature of Bitcoin ownership. While individual holders still maintain the majority, the growing presence of institutional investors signifies a pivotal shift in the cryptocurrency landscape. For anyone involved in or considering entering the cryptocurrency market, staying informed about these trends is crucial for making educated investment decisions.
As the world of Bitcoin continues to develop, those interested may also want to explore other significant cryptocurrencies. For example, check out our guides on buying Ethereum and buying Solana to diversify your portfolio and capitalize on the opportunities this digital revolution presents.
Meta Description: “Discover the latest research revealing Bitcoin ownership trends, showing that individuals still hold the majority while institutional investments surge. Learn about ownership distribution and what it means for the future of Bitcoin.”
