Tracked Bitcoin Holdings Total 4.09 Million BTC in November 9 Snapshot

The BTC institutional tracker’s November 9 snapshot placed tracked Bitcoin holdings at approximately 4.09 million BTC. Strategy (MSTR) led public companies with 850,364 BTC, while iShares Bitcoin Trust IBIT held 811,115 BTC, the largest balance among listed funds.

The tracker places ETFs and exchanges in the largest category at 1,615,524 BTC. Public companies rank second with 1,250,611 BTC across 197 holders, a reported value of $93.61 billion and a 5.96% share. Strategy’s 850,364 BTC and IBIT’s 811,115 BTC sit in separate classifications, so their close balances do not make them directly comparable within one cohort.

Who leads the public-company ranking?

Strategy remained the largest public-company holder, while Strive ranked fourth with 43,124 BTC. The five leading balances were:

• Strategy (MSTR): 850,364 BTC
• Metaplanet Inc. (MPJPY): 44,000 BTC
• Twenty One Capital (XXI): 43,514 BTC
• Strive (ASST): 43,124 BTC
• MARA Holdings, Inc. (MARA): 35,577 BTC

The next five public-company holders were:

• Bullish (BLSH): 22,000 BTC
• SpaceX (SPCX): 18,712 BTC
• Coinbase Global, Inc. (COIN): 18,000 BTC
• CleanSpark, Inc. (CLSK): 13,530 BTC
• Trump Media & Technology Group Corp. (DJT): 12,062 BTC

Several South Korean entities also appeared in the public-company ranking:

• Rank 58: bitmax (377030.KQ), 551 BTC
• Rank 69: Bitplanet (049470.KQ), 300 BTC
• Rank 78: WEMADE (112040.KQ), 223 BTC
• Rank 82: Parataxis Korea (288330.KQ), 200 BTC
• Rank 98: Neowiz holdings (042420.KQ), 104 BTC

How large are private-company balances?

Private companies held 201,884 BTC across 69 holders, with a reported value of $15.11 billion and a 0.96% share. The five leading balances were:

• Tether Holdings Limited: 150,000 BTC
• Bitcoin Standard Treasury Company: 30,021 BTC
• Stone Ridge Holdings Group: 10,000 BTC
• The Tezos Foundation: 2,903 BTC
• Cardone Capital: 2,800 BTC

Ranks six through 10 were:

• Zap Solutions, Inc (Strike): 1,500 BTC
• GIGA Inc.: 1,252 BTC
• Treasury: 1,111 BTC
• Meanwhile Incorporated: 759 BTC
• River Financial Inc.: 478 BTC

Which governments hold the largest balances?

Government entities held 645,623 BTC across 12 holders, with a reported value of $48.32 billion and a 3.07% share. The United States led, followed by China and the United Kingdom:

• United States: 328,372 BTC
• China: 190,000 BTC
• United Kingdom: 61,245 BTC
• Ukraine, holdings of public officials: 46,351 BTC
• El Salvador: 7,830 BTC
• United Arab Emirates: 6,420 BTC
• Kazakhstan: 3,544 BTC

The tracker labels Ukraine’s 46,351 BTC specifically as holdings of public officials. That qualifier distinguishes the entry from the national-government balances reported for the United States, China and the United Kingdom.

Which listed funds lead the ETF category?

ETFs and exchanges accounted for 1,615,524 BTC, making them the largest tracker category. The source separately identifies five listed funds:

• iShares Bitcoin Trust IBIT: 811,115 BTC
• Fidelity Wise Origin Bitcoin Fund FBTC: 184,058 BTC
• Grayscale Bitcoin Trust GBTC: 131,528 BTC
• Grayscale Bitcoin Mini Trust BTC: 62,874 BTC
• Bitwise Bitcoin ETF BITB: 38,189 BTC

Unlike the company and government tables, this section reports no separate dollar value or percentage share for the combined category. It also includes exchange balances within the 1,615,524 BTC total, so the five fund entries do not provide a complete decomposition of that category.

What does the snapshot establish?

DeFi and other holders accounted for 375,184 BTC. The tracker did not break that category into individual holders or protocols.

The editor’s note states: “The figures describe holdings at the snapshot date; they do not establish recent purchases, sales or investor flows.” A future published tracker update would provide the next checkpoint for determining whether the category split and leading balances persisted, because the source gives no scheduled release date.