Bitcoin Rises 2% as Mid-Sized Wallets Gain Supply
Mid-sized Bitcoin wallets now hold a record share of supply as smaller holders have reduced their positions since spot ETFs launched.
Updated on Nov. 4, 2026 in Investing
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Bitcoin rose 2% on Wednesday, November 4, 2026, as on-chain data showed wallets holding 100 to 1,000 BTC accumulated a record 26.3% of total supply. Wallets holding fewer than 10 BTC fell to 17.1% of supply, down from a peak of 18.3% on January 1, 2024.
Why it matters
Since spot Bitcoin ETFs launched in January 2024, more retail investors have gained exposure through brokerage accounts and ETF shares rather than through wallets they control directly. This shift changes how supply is distributed across holder groups and what portion of coins is realistically available to trade.
Wallets under 10 BTC added about 5.7 million addresses while their combined holdings fell by roughly 133,000 BTC since January 2024. Visible institutions hold about 3.28 million BTC, or 16.3% of circulating supply, with spot ETFs accounting for 41% of that total.
The players
Onchainmind.io
Onchainmind.io is a blockchain analytics platform whose founder, Tom, provided the estimate of 13.3 million BTC realistically available to trade.
The details
Wallets holding 100 to 1,000 BTC accumulated about 1.35 million BTC since the ETF launch, while wallets holding more than 1,000 BTC gave up about 487,000 BTC. Corporate treasuries account for 40.1% of visible institutional holdings, based on the same on-chain analysis.
Timeline
January 2024: Spot Bitcoin ETFs launched.
January 1, 2024: Small-wallet supply share peaked at 18.3%.
October 2025: Bitcoin price reached its high before the latest drawdown.
June 2026: Bitcoin reached its low of the latest drawdown.
November 4, 2026: Bitcoin rallied 2% amid the Midterm election sweep.
Market Dynamics
The January 2024 launch of spot Bitcoin ETFs opened the asset to brokerage-account investors and reshaped who holds coins directly. Wallet data since that launch shows supply moving toward mid-sized holders as smaller wallets have shrunk their share.
For investors, the shift toward ETF and brokerage ownership means more exposure to Bitcoin without holding coins directly. The distribution changes may affect price dynamics as concentrated mid-sized holdings grow.
The takeaway
Tracking who holds Bitcoin, not just how much is held, helps explain shifts in supply that price alone does not reveal. Investors may find wallet-tier data a useful complement to ETF flow reports when assessing market structure.
Further reading
For more on how digital assets fit into portfolios, explore the Investing section.
Source note: This article includes information reported by Benzinga.
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