Gemini: Companies, Funds, and Governments Control $668 Billion in Bitcoin
Date: 2025-06-13 Author: Oliver Abernathy Categories: BUSINESS
According to a newly released study by Gemini and Glassnode, large institutional players, including government treasuries, exchange-traded funds, and public companies, control about 30.9% of the total Bitcoin supply. This indicates that the market is gradually moving toward a high-level institutional infrastructure.
The total volume of Bitcoin held by the largest institutional and custodial organizations has reached 6.1 million coins, which at the current price is valued at about $668 billion. This figure has grown by more than 900% over the past decade, significantly outpacing the growth of the spot price of Bitcoin, which has risen from less than $1,000 to over $100,000 per coin during the same period.
The report emphasizes that Bitcoin is increasingly viewed by organizations as a strategic asset. At the same time, the wallets of sovereign treasuries demonstrate low activity and are weakly dependent on fluctuations in the price of the cryptocurrency. However, the volumes of their holdings are large enough that they could have a noticeable impact on the market when sold or moved.
As an example, the authors of the study cite the treasuries of the United States, China, Germany, and the United Kingdom. Most of the bitcoins in these treasuries were not obtained through investments, but as a result of law enforcement operations, such as confiscations. These assets are considered "dormant", but when activated, they can affect the dynamics of the market.
At the same time, corporate structures, investment funds, and asset managers continue to increase their investments in Bitcoin. According to analysts, structural changes are taking place that indicate the transition of the crypto market to a more mature institutional model.
Thus, institutional participation in Bitcoin is noticeably increasing, which confirms the growing interest of large players in this digital asset. This can contribute to the stabilization and development of the crypto market in the long term.
