到2026年，機構的比特幣流入可能達到4269億美元

該金額等於420萬BTC或總供應量的20％。這一預測是由於資產經理，主權財富基金和上市公司的需求不斷增長。

A new Bitwise report predicts that institutional Bitcoin (BTC) inflows could reach an impressive volume of 4.2 million coins by 2026. This prediction is based on an analysis of recent trends in asset managers, sovereign wealth funds, and public companies investing in Bitcoin.

一份新的位報告預測，到2026年，機構的比特幣（BTC）流入量可能達到420萬個硬幣。這一預測基於對資產經理，主權財富基金以及投資比特幣投資的最新趨勢的分析。

The report, titled "Institutions Are Buying Bitcoin—A Lot Of It," provides a snapshot of the shifting landscape of Bitcoin ownership. It reveals that major financial entities have been incrementally increasing their Bitcoin holdings since the Bitcoin halving 2024. This halving reduced the block reward to 3.125 BTC, cutting the annual issuance to about 164,250 BTC.

該報告標題為“機構正在購買比特幣（其中很多），提供了比特幣所有權不斷變化的景觀的快照。它表明，自比特幣減少了2024年以來，主要金融實體一直在逐步增加其比特幣持有量。這種減半將塊獎勵降低到3.125 BTC，將年度發行減少到約164,250 BTC。

As a result, BTC supply is now more limited, while institutional interest seems to be growing at an even faster pace. If institutions manage to accumulate the projected volume, it will place significant pressure on the remaining BTC supply. This development could reshape BTC ownership distribution in the coming year.

結果，BTC供應現在更加有限，而機構的利益似乎以更快的速度增長。如果機構設法積累了預計的量，它將對剩餘的BTC供應施加重大壓力。這種開發可以在來年重塑BTC的所有權分配。

BlackRock and Strategy Lead in Institutional Bitcoin Holdings

機構比特幣持有的貝萊德和戰略領導

Among the institutions holding large Bitcoin positions, BlackRock's IBIT ETF fund now manages $71 billion in BTC. This figure is a testament to the strong demand for the flagship cryptocurrency through exchange-traded products.

在擁有大型比特幣頭寸的機構中，貝萊德的IBIT ETF基金現在在BTC中管理著710億美元。這個數字證明了通過交易所交易產品對旗艦加密貨幣的強烈需求。

Strategy is another top institutional holder, currently managing 576,230 BTC, valued at $63.7 billion, or 2.74% of the total BTC supply.

策略是另一個最高機構持有人，目前管理576,230 BTC，價值637億美元，佔BTC總供應總額的2.74％。

The Bitwise report also lists several public companies that have recently started adding BTC to their balance sheets. Among them are Metaplanet, which has been gradually increasing its Bitcoin exposure in recent months.

Bitwise報告還列出了幾家最近開始將BTC添加到資產負債表中的上市公司。其中包括Metaplanet，近幾個月來一直在逐漸增加其比特幣暴露。

Both public companies and asset managers are not the only ones entering the crypto space. The Texas Teacher Retirement System has placed $500 million into Bitcoin ETFs, showcasing involvement at the U.S. state level.

上市公司和資產經理並不是唯一進入加密空間的人。德克薩斯州教師退休系統已向比特幣ETF投入了5億美元，展示了美國州一級的參與。

Sovereign wealth funds Bitcoin activity is also expanding. Norges Bank and the Abu Dhabi Investment Authority have included Bitcoin in their investment strategies. These entities now appear alongside firms like Fidelity and Morgan Stanley, which joined the crypto space post-2024 halving.

主權財富基金比特幣活動也在擴大。 Norges Bank和Abu Dhabi投資管理局將比特幣包括在其投資策略中。這些實體現在與Fidelity和Morgan Stanley等公司一起出現，後者加入了2024年後的Crypto Space。

BTC Supply Pressure Intensifies as Institutions Accumulate

隨著機構的積累，BTC的供應壓力加劇了

The Bitcoin halving 2024 had a significant impact on the number of new coins entering circulation. With supply now limited, institutional Bitcoin inflows could create a structural imbalance.

比特幣減半2024對進入循環的新硬幣數量有重大影響。由於供應有限，機構的比特幣流入可能會造成結構性失衡。

The Bitwise report calculates that if 4.2 million BTC enters institutional wallets by 2026, liquid supply will tighten further. Currently, about 19.8 million BTC is liquid, and if institutions manage to accumulate the projected volume, it will leave about 15.6 million BTC in liquid supply.

位報告計算出，如果420萬BTC到2026年進入機構錢包，液體供應將進一步收緊。目前，大約1,980萬BTC是流動性的，如果機構設法累積了預計的數量，則將留下約1560萬BTC的液體供應。

In May 2025, Bitcoin reached a new all-time high, which the report attributes to the interplay of rising institutional demand and limited supply. The report includes charts from Swan Bitcoin visualizing future allocation estimates to institutions, breaking down Bitcoin holdings by country, corporation, and institutional buyer.

2025年5月，比特幣達到了新的歷史最高水平，該報告歸因於機構需求不斷上升和供應有限的相互作用。該報告包括天鵝比特幣的圖表，可視化機構的未來分配估算，按國家，公司和機構購買者分解比特幣持有量。

According to the report, El Salvador currently holds 6,133 BTC, valued at about $521 million. The United States holds 198,012 BTC, valued at $16.8 billion. Despite its trading ban, China holds 190,000 BTC, valued at $16.1 billion. These figures are based on data published alongside the Bitwise report and visualized by Swan Bitcoin.

根據該報告，埃爾·薩爾瓦多目前持有6,133 BTC，價值約5.21億美元。美國持有198,012 BTC，價值168億美元。儘管禁令貿易禁令，但中國持有190,000 BTC，價值161億美元。這些數字基於與位報告一起發布的數據，並由天鵝比特幣可視化。

Bitcoin ETF Growth Raises Scrutiny and Exposure Risk

比特幣ETF增長會引起審查和暴露風險

While the report by Bitwise confirms strong institutional Bitcoin inflows, it also highlights some key risks. A sudden reversal by large institutional holders may have a substantial impact on the BTC market due to their massive positions.

儘管Bitwise的報告證實了強大的機構比特幣流入，但它也突出了一些關鍵風險。大型機構持有人突然逆轉可能會對BTC市場產生重大影響。

The report mentions that institutions' high exposure could translate into market volatility during sell-offs, especially considering the scale of institutional investments.

該報告提到，機構的高暴露量可能會轉化為拋售期間市場波動，尤其是考慮到機構投資的規模。

Moreover, the growth of Bitcoin ETFs has drawn more attention from regulators. The U.S. Securities and Exchange Commission (SEC) continues to review the operations of these funds and the overall market integrity. The report notes this ongoing SEC activity as a factor that may influence future Bitcoin ETF inflows.

此外，比特幣ETF的生長吸引了監管機構的更多關注。美國證券交易委員會（SEC）繼續審查這些資金的運營和整體市場完整性。該報告指出，這種正在進行的SEC活動是可能影響未來比特幣ETF流入的因素。

At the same time, macroeconomic conditions appear to be stable. The U.S. Federal Reserve has not yet announced any plans for cutting interest rates, and interest rates are expected to hold steady in June 2025. These monetary policies may affect the flows of funds into risk assets, including Bitcoin.

同時，宏觀經濟狀況似乎是穩定的。美國美聯儲尚未宣布任何降低利率的計劃，預計利率將在2025年6月保持穩定。這些貨幣政策可能會影響資金流入包括比特幣在內的風險資產。

The report concludes by emphasizing the significant shifts occurring in the cryptocurrency landscape. As institutions increasingly allocate funds to Bitcoin, the dynamics of BTC ownership and liquidity are changing, presenting both opportunities and challenges for market participants.

該報告結束時強調了加密貨幣景觀中發生的重大轉變。隨著機構越來越多地將資金分配給比特幣，BTC所有權和流動性的動態正在發生變化，為市場參與者帶來了機會和挑戰。

The data on institutional Bitcoin holdings is provided by Bitwise and Swan.

Bitwise和Swan提供了機構比特幣持有的數據。