Glassnode research reveals that 6.04 million BTC, valued at approximately $469 billion, have exposed public keys on the blockchain, representing 30.2% of the total issued supply. This exposure theoretically increases the risk of future quantum computing attacks. The remaining 13.99 million BTC have not shown public key exposure. The exposed supply is categorized into structural and operational exposures. Structural exposure accounts for 1.92 million BTC, or 9.6%, while operational exposure, primarily due to address reuse, involves 4.12 million BTC, or 20.6%. Exchanges significantly contribute to operational exposure, with 1.66 million BTC, representing 8.3% of the total supply and about 40% of all operationally insecure BTC. Glassnode cautions that these findings should not be interpreted as a risk ranking or solvency signal for specific companies.