The Entities That Control Crypto’s Billions
Arkham Intelligence published its latest Top 100 entity ranking on March 31, 2026, with holdings data accurate as of March 30, 2026. The list aggregates confirmed on-chain addresses controlled by the same institution or individual into a single “entity.” It is not a ranking of individual wallet addresses.
The result is one of the clearest snapshots available of how crypto wealth is distributed across exchanges, DeFi protocols, asset managers, governments, treasury companies, and individual whales. The top 100 entities collectively hold an estimated $700 billion+ in on-chain assets.
- The Entities That Control Crypto’s Billions
- The Top 10: Three Exchanges, Two Asset Managers, and a Ghost
- Ranks 11-20: Where OKX Landed and MakerDAO’s Rise
- TradFi’s On-Chain Footprint Keeps Growing
- DeFi Protocols Hold More Than Most Banks
- Governments, Seized Funds, and On-Chain Ghosts
- BTC Treasury Companies and the Corporate Adoption Wave
- The Full Top 100 Ranking
- Category Breakdown: Who Dominates the List
- What the Arkham Top 100 Tells Us About April 2026
The Top 10: Three Exchanges, Two Asset Managers, and a Ghost
Binance holds the top position with $136B in confirmed on-chain holdings. Coinbase follows at $88B, a gap of nearly $48 billion that reflects Binance’s dominance in global trading volume and custodial scale.
Satoshi Nakamoto sits at number three with $72B. Those coins, mined in Bitcoin’s earliest blocks, have never moved. They remain a frozen fortune that appreciates in dollar terms alongside BTC’s price.
Traditional finance occupies two of the top six slots. BlackRock holds $58B, driven by its spot Bitcoin ETF and expanding crypto custody operations. Fidelity Custody follows at $29B. Together, these two asset managers account for $87B in on-chain crypto.
Lido ranks fifth at $38B, confirming its dominance in Ethereum liquid staking. Strategy (formerly MicroStrategy) holds $29B, tied with Fidelity Custody for sixth place.
The U.S. Government holds $22B at rank eight, assets largely accumulated through law enforcement seizures. Aave, the DeFi lending protocol, also holds $22B at rank nine.
The most notable change is Robinhood, which enters the top 10 as a new entrant at $20B, replacing OKX (which dropped to rank 13 with $19B).
Table 1 — Top 10 Arkham Entities (March 30, 2026)
| Rank | Entity | Category | Holdings (USD) |
|---|---|---|---|
| 1 | Binance | Exchange | $136B |
| 2 | Coinbase | Exchange | $88B |
| 3 | Satoshi Nakamoto | Creator | $72B |
| 4 | BlackRock | Investment Management | $58B |
| 5 | Lido | DeFi Protocol | $38B |
| 6 | Fidelity Custody | Investment Management | $29B |
| 7 | Strategy | BTC Treasury Company | $29B |
| 8 | U.S. Government | National Government | $22B |
| 9 | Aave | DeFi Protocol | $22B |
| 10 | Robinhood (NEW) | Exchange | $20B |
Source: Arkham Intelligence. Data as of March 30, 2026.
Ranks 11-20: Where OKX Landed and MakerDAO’s Rise
Upbit holds $20B at rank 11, matching Robinhood. Bitfinex and OKX share $19B each at ranks 12-13.
MakerDAO sits at rank 14 with $17B, alongside BNB Chain at $17B. Kraken holds $16B, while Grayscale and Bybit each hold $15B. WhiteHatDAO at $14B and Arbitrum at $13B round out the top 20.
TradFi’s On-Chain Footprint Keeps Growing
The institutional presence in the top 100 is now structural, not experimental. BlackRock ($58B), Fidelity Custody ($29B), Grayscale ($15B), Bitwise ($4B), Ark Invest ($2B), WisdomTree ($1B), VanEck ($1B), CoinShares ($1B), and 21Shares ($1B) are all ETF issuers or asset managers on the list.
Their combined holdings exceed $105 billion. Regulated products like spot Bitcoin and Ethereum ETFs have turned traditional finance into a permanent fixture in crypto’s ownership structure.
Robinhood ($20B), Revolut ($3B), and Block Inc. (Cash App) ($1B) represent the fintech layer. These platforms custody crypto for millions of users who may never interact with a blockchain directly.
DeFi Protocols Hold More Than Most Banks
DeFi’s on-chain footprint remains substantial. Lido ($38B) and Aave ($22B) rank in the top 10 outright. MakerDAO holds $17B at rank 14, Ethena holds $9B, and Ether.fi holds $6B.
Other notable DeFi entities include Morpho ($6B), Just ($6B), PancakeSwap ($5B), Spark Protocol ($5B), Uniswap ($4B), Curve Fi ($3B), Kamino Finance ($2B), and Compound ($1B). Together, DeFi protocols account for more than $115 billion in confirmed on-chain holdings.
Governments, Seized Funds, and On-Chain Ghosts
Two sovereign governments appear in the top 100. The U.S. Government holds $22B (rank 8), and the U.K. Government holds $4B (rank 44). Both portfolios consist primarily of assets seized in criminal investigations.
Historical entities also persist. The Mt. Gox Hacker still holds $5B, while Mt. Gox itself retains $2B tied to the ongoing creditor repayment process. TheDarkDAO, linked to the 2016 Ethereum DAO exploit, holds $7B. These entities serve as permanent on-chain reminders of the industry’s most consequential security failures.
BTC Treasury Companies and the Corporate Adoption Wave
Strategy leads the corporate treasury category at $29B (rank 7). Its ongoing Bitcoin acquisition strategy has made it the largest publicly traded corporate holder of BTC.
Other treasury companies on the list include Twenty One Capital ($3B), Metaplanet ($2B), and Bitmine ($2B). World Liberty Financial, linked to the Trump family, holds $4B. The Official Trump Meme entity appears at $2B, and Justin Sun holds $1B across confirmed wallets.
The Full Top 100 Ranking
Below is the complete list of the 100 largest Arkham entities ranked by on-chain holdings.
Table 2 — Top 100 Arkham Entities by On-Chain Holdings (March 30, 2026)
| Rank | Entity | Holdings (USD) |
|---|---|---|
| 1 | Binance | $136B |
| 2 | Coinbase | $88B |
| 3 | Satoshi Nakamoto | $72B |
| 4 | BlackRock | $58B |
| 5 | Lido | $38B |
| 6 | Fidelity Custody | $29B |
| 7 | Strategy | $29B |
| 8 | U.S. Government | $22B |
| 9 | Aave | $22B |
| 10 | Robinhood | $20B |
| 11 | Upbit | $20B |
| 12 | Bitfinex | $19B |
| 13 | OKX | $19B |
| 14 | MakerDAO | $17B |
| 15 | BNB Chain | $17B |
| 16 | Kraken | $16B |
| 17 | Grayscale | $15B |
| 18 | Bybit | $15B |
| 19 | WhiteHatDAO | $14B |
| 20 | Arbitrum | $13B |
| 21 | Tether | $11B |
| 22 | Ethena | $9B |
| 23 | Wrapped Bitcoin | $8B |
| 24 | WhiteBIT | $7B |
| 25 | TheDarkDAO | $7B |
| 26 | Ether.fi | $6B |
| 27 | USDM Finance | $6B |
| 28 | HTX | $6B |
| 29 | Morpho | $6B |
| 30 | Just | $6B |
| 31 | Bitget | $5B |
| 32 | PancakeSwap | $5B |
| 33 | Mt. Gox Hacker | $5B |
| 34 | Gemini | $5B |
| 35 | Crypto.com | $5B |
| 36 | Spark Protocol | $5B |
| 37 | Aster | $5B |
| 38 | Bithumb | $5B |
| 39 | Gate.io | $4B |
| 40 | MEXC | $4B |
| 41 | World Liberty Financial | $4B |
| 42 | USDT0 | $4B |
| 43 | Bitwise | $4B |
| 44 | U.K. Government | $4B |
| 45 | Hyperliquid | $4B |
| 46 | Uniswap | $4B |
| 47 | Deribit | $4B |
| 48 | Babylon | $4B |
| 49 | bitFlyer | $4B |
| 50 | Polygon | $3B |
| 51 | Bitstamp | $3B |
| 52 | Coincheck | $3B |
| 53 | Jupiter | $3B |
| 54 | Mantle | $3B |
| 55 | Curve Fi | $3B |
| 56 | Twenty One Capital | $3B |
| 57 | Revolut | $3B |
| 58 | Base | $3B |
| 59 | Binance Pool | $3B |
| 60 | KuCoin | $3B |
| 61 | Boerse Stuttgart Digital | $3B |
| 62 | Abraxas Capital Heka Funds | $2B |
| 63 | Paxos | $2B |
| 64 | Bitcoin Group SE (Bitcoin.de) | $2B |
| 65 | Metaplanet | $2B |
| 66 | Ark Invest | $2B |
| 67 | Mt. Gox | $2B |
| 68 | Grove Finance | $2B |
| 69 | Official Trump Meme | $2B |
| 70 | Bitvavo | $2B |
| 71 | Bitmine | $2B |
| 72 | Copper | $2B |
| 73 | Worldcoin | $2B |
| 74 | EigenLayer | $2B |
| 75 | Ceffu | $2B |
| 76 | Kamino Finance | $2B |
| 77 | Backed | $2B |
| 78 | River | $2B |
| 79 | bitbank | $2B |
| 80 | Pump.fun | $2B |
| 81 | Ondo Finance | $2B |
| 82 | Wormhole | $2B |
| 83 | Purpose Investments | $1B |
| 84 | Block Inc. (Cash App) | $1B |
| 85 | Justin Sun | $1B |
| 86 | WisdomTree | $1B |
| 87 | Circle | $1B |
| 88 | VanEck | $1B |
| 89 | Compound | $1B |
| 90 | Jump Trading | $1B |
| 91 | Optimism | $1B |
| 92 | WhiteHatDAO 2 | $1B |
| 93 | Coinbase Prime | $1B |
| 94 | HashKey Exchange | $1B |
| 95 | Cobo | $1B |
| 96 | Bitkub | $1B |
| 97 | BitMEX | $1B |
| 98 | CoinShares | $1B |
| 99 | 21Shares | $1B |
| 100 | USDD.io | $1B |
Source: Arkham Intelligence. Data as of March 30, 2026.
Category Breakdown: Who Dominates the List
Centralized exchanges still custody the largest pool of assets, accounting for roughly 28 of the 100 entities and well over $350B in combined holdings. DeFi protocols follow with approximately 15 entities and $115B+. Asset managers and ETF issuers, numbering around 10, hold $105B+.
Layer 1 and Layer 2 networks like BNB Chain ($17B), Arbitrum ($13B), Polygon ($3B), Mantle ($3B), Base ($3B), and Optimism ($1B) collectively hold $25B+ in treasury assets.
Table 3 — Top 100 Entities by Category Breakdown
| Category | Approx. Count | Est. Combined Holdings |
|---|---|---|
| Centralized Exchanges | ~28 | $350B+ |
| DeFi Protocols | ~15 | $115B+ |
| Asset Managers & ETF Issuers | ~10 | $105B+ |
| Governments | 2 | $26B |
| BTC/Crypto Treasury Companies | ~5 | $36B+ |
| Individual Holders & DAOs | ~8 | $25B+ |
| Layer 1 / Layer 2 Networks | ~7 | $25B+ |
| Stablecoin Issuers & Infra | ~6 | $22B+ |
| Other (Fintech, Mining, Bridges) | ~19 | $35B+ |
Estimates based on Arkham Intelligence data, March 30, 2026.
What the Arkham Top 100 Tells Us About April 2026
Several patterns stand out in the latest ranking. Centralized exchanges remain the dominant custodians, but their share is being steadily eroded by DeFi protocols and institutional asset managers. BlackRock alone now holds more crypto than every DeFi protocol on the list except Lido.
Robinhood’s entry into the top 10 as a new addition signals that retail-facing fintech platforms are growing their crypto custody at a rapid pace. Meanwhile, Tether ($11B), USDM Finance ($6B), USDT0 ($4B), Paxos ($2B), and Circle ($1B) reflect the stablecoin infrastructure that underpins the entire ecosystem.
New entrants like Ceffu ($2B), KuCoin ($3B), Jump Trading ($1B), Coinbase Prime ($1B), Cobo ($1B), and USDD.io ($1B) point to a broadening landscape where custody, market making, and stablecoin infrastructure are all expanding their on-chain presence.
The data is clear: crypto wealth in April 2026 remains concentrated at the top, but the composition of that top tier is evolving. Exchanges, protocols, asset managers, governments, and a handful of corporate treasuries each claim their share. On-chain intelligence platforms like Arkham are making it possible to track that evolution in real time.
