Institutions and ETFs Now Control Over 9% of Ethereum Supply

Ethereum reserve entities and spot exchange-traded funds (ETFs) now hold more than 9% of the total ETH supply.

According to data from StrategicETHReserve on Thursday, these groups own 9.2% of all circulating Ethereum, a clear sign of growing ETH purchases from the traditional finance sector.

Ethereum Treasuries Drive Price Rally

The US spot Ethereum ETF market is the most significant player in this trend. In just one year since their launch, these ETFs have accumulated 5.6% of the total Ethereum supply, valued at approximately $31.2 billion.

The number of US institutions holding Ethereum has grown to 70. Many began increasing their reserves in early April this year. These entities now hold 3.6% of the circulating supply. This amounts to roughly 4.36 million ETH and equals $20.1 billion in value.

Analysts point to these Ethereum-holding public companies as the main drivers of this year’s price rally. Their most aggressive buying periods have consistently coincided with Ethereum’s most significant price surges.

Bitmine Immersion Tech is the top institutional holder, with 1.7 million ETH. The company began its ETH accumulation on June 20 of this year, having amassed an impressive $8 billion worth of ETH in just two months.

Second-place holder SharpLink Gaming owns 797,700 ETH. Their buying spree, which began on June 8, corresponded with a 55.34% increase in Ethereum’s price.

Some analysts cite this trend as a bullish indicator for future price appreciation. Bitmine has publicly committed to acquiring enough ETH to reach 5% of the total circulating supply, a goal that would require them to purchase an additional 4 million ETH.

In a recent report, Standard Chartered projected that “digital asset-focused” (DAT) companies treating Ethereum as a treasury asset could eventually hold up to 10% of the total supply. The report concluded that the buying spree by DAT firms is still in its early stages.