In 2025, Bitcoin remains in the spotlight with a trillion-dollar daily turnover. Retail investors continue to dominate while institutional players strive to enter the market.
Retail Investors Firmly Lead
On February 19, 2025, Serotonin founder Amanda Cassatt shared a chart showing a 2024 trend of Bitcoin flowing from individual wallets to institutional funds. Bitwise Invest data supports this narrative: retail investors hold 14.6 million BTC, amounting to 69.4% of the total supply. Bitwise CIO Matt Hougan noted that retail dominance persists despite talk of institutional adoption. According to Hougan, '95% of the world’s largest investors have zero exposure to Bitcoin, while 95% of all Bitcoin is already owned.'
Bitcoin ETF Demand Rises, Supply Shrinks
Institutional interest in Bitcoin is growing. In 2023, Hougan forecasted $10-$30 billion Bitcoin ETF inflows for 2024; however, actual inflows reached $38 billion by year-end. With 2025 likely to exceed 2024 figures, only 5% of Bitcoin’s supply remains unmined by 2140. This slow pace of supply makes meeting institutional demand without significant price increases unlikely.
Major Players Enter Quietly
Private funds have begun acquiring Bitcoin. Analyst Sam Callahan shared a list of 11 major players, including banks and hedge funds, buying Bitcoin via ETFs. Funds like Abu Dhabi's sovereign wealth fund and the renowned investor Paul Tudor Jones have started acquiring Bitcoin.
The current Bitcoin landscape shows a clear dominance of retail investors. With rising institutional interest and limited supply, competition for the remaining coins will only increase.
