According to research by River, as of August 25, 2025, individuals own approximately 65.9% of the total Bitcoin supply, equating to around 13.83 million BTC. Institutional ownership is growing, with funds and ETFs holding about 7.8% (1.63 million BTC) and businesses controlling approximately 6.2% (1.30 million BTC). Governments account for 1.5% or about 306,000 BTC. Lost bitcoins, estimated at 7.6%, total around 1.58 million BTC. The study emphasizes that while individuals currently dominate Bitcoin ownership, the institutional segment is expanding due to factors like the rise of ETFs and companies integrating Bitcoin as an asset on their balance sheets. River's findings come from an analysis of public records and blockchain tagging rather than a census of on-chain data, highlighting the estimated nature of these figures. The report indicates a significant influx of demand from institutions, which is absorbing Bitcoin at an increasing rate compared to the current mining output.

Source 🔗