While the oceans hold the majority of Earth's water by volume, glaciers and ice caps contain a significant amount of freshwater locked up as ice.

Here's why:

* Vast amounts of water: Glaciers and ice caps contain around 68.7% of the world's freshwater. This is a massive amount of water that could significantly impact sea levels if it were to melt.

* Global distribution: Glaciers and ice caps are found all over the world, particularly in polar regions like Antarctica and Greenland.

* Frozen state: The water in glaciers and ice caps is frozen, meaning it is not readily available for use.

Therefore, while oceans hold the most water in terms of volume, glaciers and ice caps hold the most freshwater on Earth.