A recent report from Gemini and Glassnode reveals that over 30% of Bitcoin’s circulating supply is now held by institutional investors, including centralized exchanges, exchange-traded funds, and governments. This consolidation highlights the growing role of major institutions in driving Bitcoin’s price appreciation. The report analyzes data across six categories: central exchanges, ETFs, public companies, private companies, DeFi protocols, and government entities. This concentration signifies a shift towards institutional adoption as Bitcoin transitions from a niche investment to a strategic asset for long-term portfolios. 30% of the total supply is held by just 216 centralized entities, indicating a significant move in institutional investment, particularly in the DeFi, public company, and ETF categories.