Banks are building the rails to profit from 13.9 million BTC they do not own
Strategy’s Bitcoin Banking Adoption Index scores 25 major banks and financial institutions at 32%, measuring how far they have built Bitcoin infrastructure across custody, trading, investment products, lending, and leadership support, not coin ownership. Bitwise estimates individuals hold 66.1% of Bitcoin’s supply, about 13.9 million BTC, far more than businesses or funds and ETFs. That means banks are building to serve an existing retail base rather than creating demand from scratch. Banks are expanding services as regulation eases and competition rises from exchanges, crypto-native firms, and self-custody. Recent policy changes removed major accounting and supervisory barriers, making custody and related services easier to offer. The likely next phase is Bitcoin-backed lending and broader wealth-management products, though many holders may still prefer self-custody if fees, outages, or withdrawal limits are unattractive.
