According to Fidelity's report, over 425,000 Bitcoin have been withdrawn from exchanges since November 2024, reflecting a strong accumulation trend from investors.
The amount of Bitcoin on cryptocurrency exchanges is decreasing to a record low as financial institutions and businesses accelerate their long-term holding strategy. According to the latest report from Fidelity Digital Assets, Bitcoin reserves on exchanges are now only 2.6 million BTC, the lowest level in over 6 years since November 2018.
Data shows over 425,000 BTC have been withdrawn from exchanges since November 2024, with publicly listed companies accounting for the majority with nearly 350,000 BTC purchased after the US election. Notably, in 2025, businesses are buying an average of over 30,000 BTC each month.
Strategic Shift of Financial Institutions
Fidelity notes that this trend reflects a clear strategic shift towards long-term holding by financial institutions. The report emphasizes: "We forecast this trend will accelerate in the coming period," while also noting the increasingly important role of Bitcoin in corporate treasury management strategies.
This information also aligns with recent reports showing many sovereign wealth funds are quietly accumulating Bitcoin as a hedge against the weakening USD and inflation.
The parallel movement of businesses and government institutions is creating a fundamental transformation in the Bitcoin market structure. Many corporate treasuries now view BTC as a scarce reserve asset, no longer a typical speculative trading instrument. As accumulation activities continue to increase, the process of transferring Bitcoin from exchange wallets to institutional custody solutions may have entered a new acceleration phase.
These shifts could restructure Bitcoin market dynamics at the core level – narrowing circulating supply while elevating Bitcoin as a rare macro asset similar to gold.
Although the trend of decreasing Bitcoin on exchanges is expected to continue, the report also notes that during price increases, profit-taking could temporarily increase BTC levels on exchanges.
