River’s recent research shows that individuals still own the majority of bitcoin, with about 65.9% of circulating BTC in their control, totaling 13.83 million coins. Institutional ownership is divided into businesses holding 6.2% and ETFs/funds holding 7.8%. Governments own about 1.5% of BTC, with lost bitcoin making up 7.6% and Satoshi/Patoshi holdings at 4.6%.

The remaining 5.2% of bitcoin supply has yet to be mined before reaching the hard cap of 21 million. River emphasizes that their research aims to identify current bitcoin holders, not predict prices. While individual ownership is still dominant, institutional ownership is growing, driven by the rise of ETFs and companies treating bitcoin as a balance-sheet asset.

Read more at Yahoo Finance: Most Bitcoin Still Belongs to Individuals, but Institutions Are Catching Up: Research