2026-01-17 12:36:06

The reason why BTCFi's growth curve is unique lies in the profound transformation of ownership structure.

From approximately 800,000 Bitcoins before the launch of the spot ETF to the current 3.66 million institutional holdings, the growth scale is quite significant — accounting for 18% of the total supply, and this upward momentum remains steep. This is not just a numerical change but also reflects a qualitative shift among market participants: large-scale institutional capital entering the market means that the chips are concentrated in more rational holders, and the passive arbitrage space for retail investors is shrinking.

More asset-liability support, fewer weak hands cutting losses — this is the core characteristic of the current Bitcoin market.

BTC0,48%

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FlyingLeek

· 5h ago

18% has been eaten up by institutions, what are we retail investors still doing... Really, looking at the slope from 800,000 to 3,660,000 makes me dizzy, it feels like the chips are no longer in our hands.

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SpeakWithHatOn

· 5h ago

36.6 million tokens? The institutions are really placing bets, and retail investors' happy times are getting fewer and fewer.

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