Institutional entities hold approximately 3.88M BTC, which represents 18.5% of the 21M hard cap. Public companies narrowly lead all categories at ~1.24M BTC (5.9%), with Strategy alone accounting for ~844K BTC or 4% of the total Bitcoin supply. ETFs follow closely at ~1.32M BTC (6.3%), led by BlackRock's IBIT at ~811K BTC. Governments hold an additional ~650K BTC (3.1%)