Global Sovereign Bitcoin Holdings Fall to 645,596 BTC as US Retains Top Position

Global government Bitcoin reserves decreased by 1,635 BTC to 645,596 BTC in 2026, primarily driven by a 91% reduction in Bhutan's tracked holdings to 518 BTC. The United States remains the largest sovereign holder with 328,372 BTC valued between $26 billion and $28 billion, followed by China with 190,000 BTC. In early October, U.S. federal wallets transferred roughly 17,733 BTC to Coinbase Prime for custody consolidation under the Strategic Bitcoin Reserve framework. Concurrently, institutional demand softened, with Bitcoin spot ETFs recording $278.37 million in October net outflows following $2.65 billion of inflows in September.