The trend of large investors accumulating Ethereum continues, with a progressive increase in the number of coins currently held in wallets controlled by these renowned players.
Data from tracking site Strategic ETH Reserve estimates that around 12.5 million ETH, equivalent to 10.3% of the asset's circulating supply, is held across two large cohorts: entities that have created treasuries of ether and issuers of ETH ETFs.
The first, the one involving entities, comprises at least 67 participants, and together they control 5.66 million ETH, equivalent to 4.68% of the ETH in circulation, which amounts to 120.7 million. This stash is also valued at USD 26.31 billion, at the cryptocurrency's price on Tuesday, October 7.
Meanwhile, in the second cohort, which includes ETFs, the figure is higher. In this case, they accumulate 6.84 million ETH, equivalent to 5.64% of the circulating stock. This segment is valued at USD 31.72 billion.
The following graph clearly shows the sustained increase in ether accumulation by entities and ETF issuers:
12.5 million ETH are under the control of large investors. Source: Strategic ETH Reserve.
The amount of ETH held by institutional treasuries and ETFs has increased by 20% since August 25, when CriptoNoticias reported that 10.8 million coins were controlled by these large investors.
Among the companies that opened ETH treasuries, BitMine Immersion, SharpLink Gaming, and The Ether Machine stand out, making up the trio of companies with the largest holdings of ETH to date. The former holds 2.83 million coins, the latter 838,000 ETH, and the latter 496,000 cryptocurrencies, respectively.
Many of these companies have potentially benefited from the ETH accumulation trend, reflected in their stock performance. A key example is SharpLink, whose shares have risen 150% year-to-date.
In fact, the company reported on Monday, September 6, that unrealized profits reached $900 million following the launch of the ETH treasury on June 2. "During that time, the concentration of ETH doubled, making each share more valuable. With 839,000 ETH on our balance sheet and no debt, SharpLink is in a strong position to continue generating shareholder value. This is the power of a productive and profitable asset like ETH," the entity said.
Among the ETF managers accumulating ETH, BlackRock, the world's largest asset manager, stands out, with its exchange-traded fund holding 3.9 million Ether. It is followed by Grayscale, with 1.8 million, and Fidelity, with 780,000 coins.
