- Institutional entries deepen: BlackRock tops $100 billion, Fidelity $47.5 billion, Grayscale $34 billion, MicroStrategy $53 billion via treasuries.
- Governments and protocols expand holdings: US $23B, UK $6.9B; Lido ~$70B, Aave >$31B; companies exceed one million BTC.
In its latest report, Arkham Intelligence has disclosed the identities behind the largest crypto wallets globally, highlighting the entities controlling the majority of on-chain assets as of 2025. The dataset groups wallets by ownership, allowing a more accurate view of influence within the crypto sector. The total assets held by these top entities reach around $1.6 trillion, exposing how concentrated large holdings remain despite increased retail participation.
Binance leads the rankings with over $209 billion in digital assets, reinforcing its scale beyond exchange operations. Coinbase follows with $155 billion, representing institutional-grade custody and user deposits. Interestingly, Satoshi Nakamoto, the unidentified creator of Bitcoin, retains the third spot with over $125 billion in BTC, all untouched since their origin.
Other prominent holders include BlackRock, which controls over $100 billion in crypto, and Fidelity Custody with $47.5 billion, reflecting the steady entry of traditional finance into digital assets. Grayscale, long associated with crypto trust products, manages $34 billion, while MicroStrategy holds over $53 billion in BTC via its treasury accumulation strategy.
Governments are also present. The United States reportedly holds around $23 billion, while the United Kingdom controls $6.9 billion. South Korea’s exchange Upbit maintains over $32 billion, aligning its reserves with larger global exchanges like Kraken, OKX, and Bitfinex, each surpassing $30 billion.
Meanwhile, decentralized protocols are increasing their share. Lido manages almost $70 billion, and Aave holds over $31 billion, demonstrating the on-chain shift in capital management. Smaller but visible players include Polygon, Justin Sun, and the Trump-linked Official Meme project, all controlling portfolios in the multi-billion dollar range.
Public companies collectively own over 1 million BTC, while their holdings in Ethereum, Solana, and Dogecoin are rising. This data suggests crypto assets are increasingly embedded in global financial infrastructure.
