The trend of large investors accumulating the Ethereum cryptocurrency, Ether (ETH), continues, and the number of coins currently residing in wallets managed by these well-known players is gradually increasing.
According to data from the tracking site Strategic ETH Reserve, approximately 12.5 million ETH, or 10.3% of the asset’s circulating supply, is estimated to have been accumulated in two large cohorts: companies that created Ether vaults and issuers of ETH exchange-traded funds (ETFs).
The first entity will have a concentration of at least 67 participants. And they manage 5.66 million ETHwhich is equivalent to 4.68% of the ETH in circulation, or 120.7 million. This stash is valued at USD 26.31 billion at the cryptocurrency price of this Tuesday, October 7th.
On the other hand, for the second cohort, which includes ETFs, this number is even higher. In this case, 6.84 million ETH will be accumulated, which is 5.64% of the circulating amount. The sector is valued at USD 31.72 billion.
The following graph clearly shows the sustained increase in Ether accumulation by corporates and ETF issuers.
The amount of ETH held by institutional bonds and ETFs has increased by 20% compared to August 25th, when CriptoNoticias reported that 10.8 million coins were controlled by these large investors.
Among the companies that have opened ETH vaults, BitMine Immersion, SharpLink Gaming, and The Ether Machine stand out. 3 Companies Holding the Most ETH Ever. The first one holds 2.83 million coins, the second one holds 838,000 ETH, and the third one holds 496,000 cryptocurrencies.
Many of these companies potentially benefit from the ETH accumulation trend. reflected in behavioral behavior. A prime example is Sharplink, whose stock is up 150% since the beginning of the year.
In fact, the company reported on Monday, September 6th: Unrealized profits amounted to $900 million. After the inauguration of the ETH Treasury on June 2nd.
“Meanwhile, the concentration of ETH has doubled, increasing the value of each share. With 839,000 ETH on its balance sheet and no debt, SharpLink is in a strong position to continue creating value for shareholders. “This is the power of a productive and profitable asset like ETH,” the group said.
Meanwhile, among ETF managers that accumulate ETH, BlackRock stands out: its exchange-traded fund holds 3.9 million Ethereum, making it the world’s largest asset manager. This is followed by Grayscale with 1.8 million coins and Fidelity with 780,000 coins.
