A remarkable transformation in Bitcoin ownership took place in 2025. According to the latest ownership report published by River, the distribution of Bitcoin has shown a historical change, shifting from individual investors to institutions, companies and governments. This situation was not only a temporary trend compared to previous years; It also stood out as a critical structural transformation in Bitcoin’s ownership history.
Corporate Accumulation Reached the Top
Throughout the year, companies increased their Bitcoin portfolios by 489,000 BTC, achieving the highest net gain among segments. Thanks to the recently implemented corporate treasury strategy, many companies have continued to adopt Bitcoin as a reserve asset. Data in the report revealed that corporate balance sheets absorbed a significant portion of the Bitcoin supply in the market in 2025.
There has also been a significant increase in demand for Bitcoin funds and ETFs. The total Bitcoin holdings of these investment instruments increased by 205,000 units. In the same period, it was observed that states’ interest in the crypto market increased; A total of 135,000 BTC new savings were reached in public portfolios.
These three main categories moved a total of approximately 829,000 BTC into institutional or structured portfolios at the end of the year. Thus, a huge trend from individuals to institutions emerged in the overall market.
Individual Investors Withdrew
The attitude of individual investors was also decisive in this change that left its mark on 2025. The total Bitcoin holdings of personal wallets decreased by 696,000 BTC during the year. This figure marked the largest net decrease in the period in question.
While corporate and state actors made purchases, individual investors released the Bitcoins in their portfolios to the market. According to the data presented, this created a new equilibrium in which small investors provided the supply that enabled institutional acquisitions.
When compared with the data for 2024, it becomes clear that the difference is very significant and a sharp change in trends is observed.
Effects on Market Structure and Future Expectations
This transformation in ownership structure has potential long-term effects on market dynamics. Institutional investors such as companies, ETFs and sovereigns generally operate with longer-term strategies and structured principles. The mass accumulation of Bitcoin by these institutions is a marked departure from traditional retail investor behavior.
The shift of Bitcoin ownership to institutions that allocate long-term capital may lead to differences in market dynamics such as liquidity distribution and price volatility in the future.
Data for 2025 shows that digital assets are increasingly integrated into corporate and public financial infrastructure. More data on the current picture is expected with detailed adaptation reports to be published later in the year. However, current ownership charts have clearly revealed a noticeable shift in Bitcoin ownership.
