BITCOIN CUSTODIAL SUPPLY
How Much Bitcoin Do Businesses Hold for Other People?
Some coins sit with the person who owns them. Others sit with a company that holds them on that person's behalf. This is what we can see of the second kind.
| Kind of business | Coins held | Share | Change in a month | Average buy price | Wallet groups |
|---|---|---|---|---|---|
| Exchanges | 602,320 | 82.1% | +28,459 | $55,312 | 61 |
| Other businesses | 131,336 | 17.9% | +4,455 | $77,352 | 2 |
Average buy price is what a group’s coins cost on the day they arrived, over the coins whose arrival we watched. Today’s price is $78,571.
Coins held for other people
How many coins businesses were holding, every day since 2009. The scale is stretched so the early years are readable.
All businesses (selected). Latest displayed reading: 733,657 on Aug 31, 2026. This view shows 5,837 dated readings from Sep 8, 2010 to Aug 31, 2026. The latest displayed reading is higher than the first. The displayed low is 0.16 on Sep 8, 2010. The displayed high is 1,151,787 on May 31, 2022. Every day in this range has a reading.
Exchanges. Latest displayed reading: 602,320 on Aug 31, 2026. This view shows 4,563 dated readings from Nov 28, 2013 to Aug 31, 2026. The latest displayed reading is higher than the first. The displayed low is 0.01 on Mar 25, 2014. The displayed high is 857,597 on May 6, 2023. 97 days in this range have no reading.
Pick two to four dates and read this chart's values side by side.
How much Bitcoin are businesses holding for other people?
Their pile is getting bigger733,657 coins sit with a business holding them on somebody else's behalf, and over the past month that pile changed by 32,914 coins. Coins moving to a business usually mean somebody is getting ready to sell, because they are already sitting where they can be sold in seconds. Coins moving the other way usually mean somebody is settling in.
The change in a pile is not the same as the coins that moved. This ledger also picks up wallets it had not linked to a business before, and those arrive without a movement behind them.
Which kind of business?
82.1%is held by exchanges602,320 of 733,657 coins.63wallet groups hold any of itA wallet group is a set of addresses the chain shows under one wallet's control. It is not a company: one business runs many, and most of the groups we have labelled hold nothing at all.20of them moved coins that dayThe rest sat still.What did their coins cost?
$55,312exchanges: average buy priceToday's price is 1.42 times that. 99.7% of their priced coins are worth more than they cost, and we have an arrival price for 100.0% of the group's pile.$77,352other businesses: average buy priceToday's price is 1.02 times that. 100.0% of their priced coins are worth more than they cost, and we have an arrival price for 90.4% of the group's pile.How long have the coins sat still?
The average coin has sat 2.6 yearsThe average coin held by a business last moved 2.6 years ago. That is longer than most people expect, and it is what a customer balance looks like when nobody is trading it: the coins sit where they were left, and only a small share of the pile turns over in any month.
Profit taken here is the profit on coins that left these wallets. It is not the business's own profit: the coins belong to its customers.
What is missing from this page?
The funds, and most of BitcoinThe bitcoin funds report holding 1,260,713 coins as of 2026-09-02, and not one of them is counted above. A fund's coins sit in deep cold storage: they arrive and never move, and our method learns who owns what only from coins people spend. That is the same reason 88.7% of all Bitcoin has no owner on this page at all. Two addresses spent in one transaction prove one owner. Two addresses that only ever received coins prove nothing, because anyone can pay any address.
The funds' figure is what the funds themselves publish, on their own clock, and it is not measured on the chain the way everything else here is. The two are never added together.
Understanding Bitcoin Custodial Supply
Where it stands today
Businesses hold 733,657 bitcoin for other people, which is 3.65% of all Bitcoin as of .
Exchanges hold 82.1% of that, 602,320 coins as of .
Their coins arrived at an average of $58,939 a coin as of .
Two ways to hold a coin. If you keep Bitcoin in your own wallet, nobody else can move it. If you leave it with an exchange or a custodian, a business holds it for you and that business controls the keys. Both are ownership, and they behave differently: coins a business holds are already sitting where they can be sold in seconds.
How we pick the businesses out. Every group on this page is a set of addresses the chain itself shows under one wallet's control, because at some point they were all spent from in a single transaction. A group counts as a business when published records tie it to one. Where two businesses both appear to claim the same group it goes to neither, because putting one company's coins in another's pile is the one mistake this page cannot recover from.
Why the wallet group counts look small. A wallet group is not a company and not an address. One business runs many groups, and most of the groups we have labelled hold nothing at all, because the address a customer is given to deposit into is swept empty as soon as the money lands. So the number of groups holding anything on a given day is far smaller than the number of businesses behind them.
The part we cannot see, which is most of it. We learn who owns what from the coins people spend. Two addresses spent together prove one owner. Two addresses that only ever received coins prove nothing, because anyone can pay any address. So a wallet that takes coins in and then sits still is invisible to this method, by design rather than by accident. That is most of Bitcoin, and it is why the funds that hold coins for investors do not appear in the figures here at all: their coins arrive in deep storage and never move again. The page states what the funds themselves report, on their own clock, and never adds it to anything measured on the chain.
What the averages mean. The average buy price is what a group's coins cost on the day they arrived in that group's wallets, and it covers only the coins whose arrival we watched. A coin that has not moved since before our record starts has no arrival price, so it is left out rather than counted at zero. Profit taken is the profit on coins that left these wallets, and it is not the business's own profit: the coins belong to its customers.