The analysis·Updated Mar 31, 2026

Institutional Holdings Insights

The named depth of the 2026Q1 register: the top-50 leaderboard, per-asset economics, the concentration curve, and the full first-time-filer ledger.

Live, not a PDF: every module below recomputes from the register pack. Recomputed each quarter as the SEC filings land; next refresh August 14, 2026. This snapshot: March 31, 2026.

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The system behind this tracker

You are already inside Layer 1 of Meridial.

Meridial is the go-to-market system for digital asset companies. The intelligence reading this market for you is its first layer; two more, content and outbound, will turn it into commercial results and pipeline generated at scale for your team.

The open layer

Who holds it

N = 3,088 filers, full population (stats, not the shown table)

Institutional crypto is not a crypto crowd

The most important cut of the register is who these institutions actually are. 2,673 of the 3,088 filers are investment advisers, the entire asset-management industry counted as one family. The other 415 are the named institutional types, banks first.

Investment adviserthe asset-management industry, one family2,67387% of all filers

The other 415 filers, by type

Bank
193
6%
Market maker / prop trading
53
2%
Family office
47
2%
Pension
42
1%
Insurance
29
1%
Broker-dealer
23
1%
Endowment / foundation
13
<1%
Sovereign / government fund
9
<1%
Other
5
<1%
Crypto-native manager
1
<1%

The tell: it is traditional finance

3,087 of the 3,088 filers are traditional-finance institutions: 193 banks, 47 family offices, 42 pensions, 29 insurers, 9 sovereign funds. Exactly 1 is a crypto-native manager.

Why the type is the segment

Each type is a different buyer. Banks need custody and compliance, pensions need reporting and risk, insurers need capital treatment. For anyone selling into this entrance, the institution type is the segment.

SEC EDGAR · snapshot 2026-03-31

The footprint

N = 3,088 filers, full population (stats, not the shown table)

Where the $115B actually sits

The ETF flows story undercounts it: $93.4B of the disclosed exposure is crypto EQUITIES (miners, exchanges, treasury companies), against $21.8B in spot ETPs.

Equity: miner
$32.4B
1,185 holders
Equity: BTC treasury
$24.1B
942 holders
Equity: exchange
$23.8B
1,171 holders
BTC
$19.1B
2,042 holders
Equity: stablecoin issuer
$10.7B
534 holders
ETH
$2.4B
773 holders
Equity: financial services
$2.3B
287 holders
SOL
$179.7M
92 holders
XRP
$97.3M
137 holders
Equity: custody & payments
$67.5M
107 holders
6 smaller assets
$6.5M

SEC EDGAR · snapshot 2026-03-31

The shape of the money

N = 3,088 filers, $115.1B disclosed

ETPs vs equities, and how tight it is

2,107 institutions hold spot ETPs and 2,053 hold crypto equities; 1,072 hold both. The 20 largest managers carry 48% of all disclosed value.

Spot ETPsCrypto equities
Disclosed value
19%
of $115.1B
Holders
51%
48%
of value sits with the top 20
349
first-time crypto filers this quarter

SEC EDGAR · snapshot 2026-03-31

The gated analysis

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The named depth: 5 more modules

The charts above are the open layer. Below sits the analysis: named leaderboards, lifecycles, and full feeds, recomputed from the register on every refresh, so nothing here ever goes stale. Free: we ask four things so we know who is using it. One unlock opens every tracker's insights.

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The 50 largest holders, named

The leaderboard of disclosed crypto exposure: BlackRock at the top, then the index and quant complex, every row linked to its own SEC filing.

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Broad and thin, narrow and heavy

Per asset, two bars: how many institutions hold it, and how many dollars sit in it. The divergence between the two bars is the insight.

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The concentration curve

Cumulative share of all disclosed value by filer rank, top 1 to top 1,000. A broad register with a narrow spine.

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The new-filer ledger

First-time crypto filers by week across the filing window, and the full dated ledger. The procurement window opens here.

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Q2 lands August 14

The flow modules (who added, who trimmed, who exited, in dollars) switch on when the Q2 2026 filings land on August 14, 2026.

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Filer type is classified from the SEC CRD registration on each 13F, a curated institution map, and keyword rules, then verified by an independent adversarial agent pass. A 200-firm audit shows 98% agreement at this level. All SEC-registered investment advisers (including hedge funds) are shown as one family; banks, market makers, pensions, insurers, sovereign funds and family offices are distinct. Table shows the 1,000 largest of 3,088 disclosing managers by disclosed value; the aggregates above cover all 3,088. Reconciled to EDGAR distinct-manager counts within about 2 to 5% per instrument; counts rise slightly as late 2026Q1 filings settle. Full methodology.