Blockchain Technology and Financial Services Transformation: Evidence from Institutional Cryptocurrency Adoption (ABIS Accounting and Business Information Systems Journal)
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Bitcoin Investment Products
Largest institutional Bitcoin investment channel by holdings p.10
Summary
- The research provides a cross-sectional snapshot of institutional cryptocurrency holdings collected and verified as of 24 July 2026.p.8
- Tesla announced a purchase of $1.5 billion in Bitcoin and supported digital asset payments.p.6
- Institutional investors hold over a million Bitcoin, valued at over US$112.9 billion, representing 4.77% of the total supply.p.7
- Bitcoin Investment Products (BIPs) form the largest channel for institutional Bitcoin exposure, holding 1,508,314 BTC (7.182% of max supply).p.10
- Public companies account for 1,263,365 BTC (6.016% of max supply) across 197 firms in 31 countries.p.10
- Private companies hold 284,453 BTC (1.355% of max supply) across 72 firms in 22 countries.p.10
- Institutional involvement in major altcoins includes Ethereum with 30 institutions in 9 countries and Solana with 18 institutions in 8 countries.p.11
Key insights
- Institutional Bitcoin holdings are split across three primary structures: public companies, private companies, and Bitcoin Investment Products.p.10
- Regulated Bitcoin Investment Products lead in total Bitcoin holdings, while public companies show the broadest geographic coverage across 31 countries.p.10
- Bitcoin exhibits the lowest concentration index (HHI of 1,585.9) compared to other major digital assets, indicating a more widely distributed institutional base.p.12
- Ethereum institutional ownership shows higher concentration with a CR5 of 97.79% and a CR10 of 99.35%.p.12
- Solana institutional holdings display a CR5 of 91.04% and a CR10 of 99.40%.p.12
- BNB and XRP feature very limited institutional involvement, with 5 and 2 participating institutions, respectively.p.11
- The approval of spot Bitcoin ETFs has allowed institutional investors such as public pension funds and university endowments to gain digital asset exposure through traditional markets.p.2
- High institutional ownership concentration does not always equal low institutional participation, but is associated with differing market informational efficiencies.p.13
Funders mentioned
Topics and entities
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