Bernstein: Bitcoin institutional ownership reaches 14% as ETFs and corporate treasuries strengthen base

Bitcoin's ownership structure is becoming more resilient as spot ETF inflows and corporate treasury strategies reshape the investor base, Bernstein said in a March 16 report. The research firm highlighted that Bitcoin has outperformed gold and global stock indices during the recent Middle East conflict, with a company referred to as Strategy driving accumulation by adding 66,231 BTC year-to-date at an average cost of about $85,000 to reach more than 761,000 BTC worth roughly $56 billion. Spot Bitcoin ETFs have seen about $2.1 billion of inflows over the past three weeks, cutting year-to-date net outflows to around $460 million and lifting assets under management to approximately $92 billion, representing 6.1% of total Bitcoin supply. Institutional tools including ETFs, corporate treasuries and governments collectively hold around 14% of total supply, with Bitcoin unmoved for over a year now accounting for about 60% of circulating supply, which analysts say reinforces the long-term capital base despite recent volatility.