Ethereum Treasuries Cross 4.1 Million ETH Across 69 Firms
Ethereum treasuries have reached 4.1M ETH, worth $17.5B, as 69 companies accumulate holdings, signaling growing institutional adoption of the second-largest cryptocurrency.
The total value of treasury-held Ethereum (ETH) has crossed 4.1 million ETH, according to data from StrategicETHReserve. At current prices, this represents roughly $17.5 billion, or about 3.39% of ETH’s circulating supply. The trend highlights rising institutional interest in Ethereum as a core digital asset.
Who Holds the Most ETH?
Among the 69 entities holding over 100 ETH, BitMine Immersion Technologies is the largest, with 1.5M ETH valued at $6.6B. The company also owns 192 BTC, making it the world’s second-largest crypto treasury after Strategy Inc. BitMine’s ETH-focused treasury strategy, announced in late June, has already added more than 373,100 ETH in just six weeks.
The second-largest holder, SharpLink Gaming, owns 740,800 ETH worth about $3.1B. The firm recently acquired an additional 143,593 ETH and revealed plans to raise $400M by selling shares to five global institutional investors.
Other major ETH treasuries include:
- The Ether Machine – 345,400 ETH
- PulseChain Sac – 166,300 ETH
- Coinbase – 136,800 ETH
Institutional Shift Towards ETH
Public companies collectively hold 2.6M ETH (about $10.9B), while U.S. spot Ethereum ETFs own 6.7M ETH (around 5.5% of ETH supply).
This consolidation of ETH in corporate treasuries and ETFs signals growing institutional acceptance of Ethereum as a long-term store of value and a critical digital asset alongside Bitcoin.
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