The value of treasury holdings of Ethereum (ETH) has crossed over 4.1 million ETH, held by 69 entities in total. At current prices, that’s about $17.5 billion worth of ETH, or around 3.39% of ETH supply. This reflects growing institutional interest in holding Ethereum.
As per data from StrategicETHReserve, there are more than 69 entities that hold more than 100 ETH. However, the biggest holder is BitMine Immersion Technologies, which holds 1.5 million ETH valued at $6.6 billion.
BitMine also holds 192 bitcoin (BTC), and it is the second-largest global crypto treasury, after Strategy Inc. At the end of June, BitMine announced its ETH treasury strategy, and in just six weeks, the company added more than 373,100 ETH.
The second biggest holder on the list is SharpLink Gaming with 740,800 ETH worth $3.1 billion. Last week, the company acquired around 143,593 ETH. SharpLink is also planning to raise $400 million by selling shares to five major global institutional investors.
In the top five list, other major entities include The Ether Machine, PulseChain Sac, and Coinbase, which hold around 345,400 ETH, 166,300 ETH, and 136,800 ETH, respectively.
In total, public companies alone hold around 2.6 million ETH, about $10.9 billion, in their treasuries. At the same time, U.S. spot Ethereum ETFs own approximately 6.7 million ETH, equal to approximately 5.5% of all supply of ETH.
Collectively, the increasing trend in Ethereum treasury holdings indicates its increasing institutional acceptance and a change in direction towards widespread recognition of ETH as a major digital asset.
