Over 11 Million Bitcoin Remain Unattributed Despite Wall Street Buying

Trusted Editorial content, reviewed by leading industry experts and seasoned editors. Ad Disclosure More than 11.1 million Bitcoin (BTC), representing approximately 55% of all mined coins, cannot be linked to a known owner, according to an October ownership snapshot from Galaxy Research. The findings highlight how Bitcoin ownership remains difficult to identify despite growing institutional adoption, including spot exchange-traded funds (ETFs), corporate holdings, and professional custody services. TL;DR 11.1 million BTC remain unattributed: Galaxy Research estimates that approximately 55% of Bitcoin’s mined supply cannot be linked to a known entity. Institutional adoption hasn’t solved ownership attribution: Exchanges, ETFs, and governments account for part of the identified supply, while many wallet addresses remain unidentified. Unknown doesn’t mean lost: The figure may include individual holdings, inaccessible coins, and institutional wallets that researchers have not identified. Galaxy Research Finds 55% of Bitcoin Supply Unattributed Galaxy Research estimates that approximately 11.1 million BTC out of roughly 20.1 million mined coins sit in addresses it cannot connect to an e...