📊 #BTC (Glassnode): Major holders' BTC

- Public companies: ~1.07M BTC

- Governments: ~0.62M BTC

- US spot ETF: ~1.31M BTC

- Exchanges: ~2.94M BTC

Total: ~5.94M BTC, about 29.8% of circulating supply. This shows liquidity increasingly concentrated with institutional investors.