Gemini: ”Centralized Bitcoin Vault Holds 31% of Total Supply”

About 31% of all Bitcoin is stored in centralized institutional wallets, many of which are large custodians of assets such as governments, exchange-traded funds (ETFs), and publicly-listed companies.
Gemini and on-chain data provider Glassnode announced in a joint report that Bitcoin is an institutional financial asset.
According to the report, centralized treasury institutions such as the government, ETFs, and listed companies hold a total of 6.1 million BTC.
This amounts to about $668 billion in current market value, or 30.9% of the total amount in circulation, a whopping 924% increase from 10 years ago.
"Such a change represents a rapid transformation to institutional-grade infrastructure," Gemini said, "as these institutions adopt Bitcoin as a strategic store of value."
It was also found that centralized exchanges (CEXs) hold nearly half of the amount. However, the amount held is not shared by individual customers or small
The report also pointed out that the amount included assets of short-selling investors, which is different from the actual amount of holdings in the safe. According to the report, the top three institutions in the DeFi, listed companies, ETFs, and funds sectors were
These companies account for 65-90% of the total holdings. This suggests that early participants still have strong market power. Meanwhile, holdings by private companies are more diversified.
"The phenomenon of almost one-third of Bitcoin supply being held in centralized vaults marks a period of institutional maturity for the market structure," the report concluded.
It means that.