New research from Bitwise shows that individuals remain the largest owners of Bitcoin despite growing institutional participation. According to the data, individual investors collectively hold approximately 66.1% of Bitcoin's total supply, while businesses own about 7.8% and investment funds and exchange-traded funds control roughly 7.2%. The figures highlight that retail investors still form the foundation of Bitcoin ownership, even after years of increasing institutional adoption. Since Bitcoin's launch in 2009, millions of individuals worldwide have accumulated the cryptocurrency as a long-term investment, inflation hedge or alternative financial asset. Corporate ownership has expanded significantly during recent years as public companies began adding Bitcoin to their balance sheets. Several firms now view Bitcoin as a strategic treasury reserve capable of preserving value over long investment horizons. These corporate purchases have introduced new sources of demand while increasing Bitcoin's acceptance within traditional financial markets. Exchange-traded funds have also become an important driver of institutional investment. Spot Bitcoin ETFs allow pension funds, wealth managers and retail investors to gain exposure through regulated financial products without directly managing private keys or cryptocurrency wallets. Since their introduction, ETF inflows have contributed billions of dollars in fresh capital entering the Bitcoin market. Governments and lost coins account for much of the remaining supply. Various governments hold Bitcoin acquired through criminal seizures, while an estimated portion of Bitcoin is permanently inaccessible because private keys have been lost. These coins effectively reduce Bitcoin's circulating supply, increasing scarcity over time. Bitcoin's fixed maximum supply of 21 million coins remains one of its defining characteristics. Unlike fiat currencies that central banks can expand, Bitcoin's issuance follows a predetermined schedule that gradually reduces new supply through halving events approximately every four years. Market analysts note that continued institutional accumulation alongside strong retail ownership creates a diversified investor base. While institutional investors often bring greater liquidity and market credibility, retail investors continue to represent Bitcoin's decentralized origins by maintaining broad ownership across millions of wallets worldwide. As adoption expands among corporations, governments and investment funds, the balance of ownership may continue evolving. Nevertheless, current data suggests that individual investors remain the dominant force in Bitcoin ownership, reinforcing the cryptocurrency's decentralized distribution despite increasing participation from traditional finance.