Institutional ETH Tr...

Institutional ETH Treasuries Top $17.6B as 69 Entities Amass 4.1M Ether

By José Oramas August 22, 2025 In ETFs, Ethereum

A panoramic digital scene filled with numerous silver Ethereum coins, creating a sea of Ethereums. The scene is set against a dark — Source:AdobeStock

Public companies and funds now collectively hold a significant portion of Ethereum’s supply, with treasury holdings surpassing 4.1 million ETH, or 3.39% of the total supply.
BitMine Immersion Technologies is the largest corporate holder, with over 1.5 million ETH, and has abandoned Bitcoin mining to focus on Ether accumulation.
U.S. spot Ethereum ETFs have also seen massive growth, now holding over 6.7 million ETH, which accounts for 5.5% of the total supply, making institutions collectively control close to 10% of Ethereum’s supply.

Ethereum treasury holdings have crossed 4.1 million ETH, worth about US$17.6B (AU$26.75B), spread across 69 entities with more than 100 ETH each, according to StrategicETHReserve. That equals 3.39% of total supply.

BitMine Immersion Technologies is the largest holder, controlling roughly 1.5 million ETH valued at US$6.6 billion (A$10.03 billion).

The company has abandoned bitcoin mining to focus entirely on ether accumulation. SharpLink Gaming follows with 740,800 ETH, about US$3.2B (AU$4.86B). The Ether Machine holds 345,400 ETH, while the Ethereum Foundation has 231,600 ETH.

Data shows public companies collectively hold 2.6 million ETH, or US$10.9B (AU$16.57 billion). US spot Ethereum ETFs add another 6.7 million ETH, 5.5% of supply.

SharpLink’s accumulation is aggressive. The firm raised US$146.5M (AU$222.68M) through an At-the-Market facility and another US$390M (AU$592.8M) in a registered direct offering completed August 11.

In the past week, it added 143,593 ETH at an average of US$4,648 (AU$7,064.96). Its treasury now stands at 740,760 ETH, up 11,956 units in four days. At current prices above US$4,300 (AU$6,536), the holdings are valued at more than US$3B (AU$4.56B).

BitMine and SharpLink dominate corporate ETH treasuries, while ETFs lock up millions more. Together, institutions now control close to 10% of Ethereum’s supply, making ETH one of the most concentrated corporate and fund holdings in the sector.