A growing number of major institutions and governments are holding significant amounts of Bitcoin, signaling a shift in the perception of cryptocurrencies. BlackRock’s recent launch of a spot Bitcoin ETF marks a significant turning point for traditional finance, demonstrating its embrace of digital assets. Grayscale, a leading player in crypto asset management, continues to hold billions of dollars worth of Bitcoin through its Grayscale Bitcoin Trust (GBTC), reflecting their long-term belief in Bitcoin’s value. The U.S. government also holds substantial Bitcoin holdings, accumulated through seized funds and law enforcement actions. Despite not actively investing in Bitcoin, this government holding reflects the cryptocurrency’s integration into the global financial system.