Coinbase’s Ethereum Treasury officially surpasses the $635 million mark, and obviously it’s a statement about how seriously they are currently treating Ethereum. Their holdings are classified as approximately 136,782 ETH, as they are held as an additional 11,195 ETH due to the crypto assets held for their investment and operational needs. At ETH prices of nearly $4,500, the total is well valued at $635 million. The investment portion earns a staking yield of approximately 4.8% per year. This is a way to keep ETH at hand to generate predictable returns. Coinbase Holdings clearly sees Ethereum as a dual purpose asset: strategic preparation and functional operational tools.
Ethereum holdings for investment and management
Institutional interest in Ethereum is clearly speeding up. Between the corporate finance ministry, the total facility Ethereum currently owns ETH of 4.91 million, accounting for approximately 4.06% of the total supply. That’s over $21 billion. Companies like Bitmine Immersion Technologies have accumulated over 2 million ETH worth around $9 billion, while other players like Sharplink and Ether Machine have hundreds of thousands more. This accumulation reflects a change in thinking. Ethereum is treated as a Treasury Reserve that supports yields, as a staking service that provides continuous returns and as an operating resource for carrying out transactions and paying network fees. Coinbase Holdings is clearly at the heart of this trend.
Yield staking makes the Treasury more profitable
Staking yields are especially important. The stake mechanism of Ethereum’s proof allows large holders to earn stable returns, and Coinbase is leveraging it to generate predictable revenue from its Ethereum Treasury. Meanwhile, operational ETH helps to accelerate daily network activity, validator operations, and transactions on Layer 2 networks. Of course, the ability to earn money while using ETH for operational purposes becomes a much more flexible Treasury device than simply holding cash or Bitcoin.
Demand and Demand Dynamics for Ethereum
Coinbase serves as the administrator of most approved Ethereum ETFs and owns billions of ETH from major institutions such as BlackRock and Fidelity. This means being exposed to the flow of facilities without buying and selling directly in the spot market. Daily inflows into Ethereum ETFS recently reached $406 million, with Fidelity’s Feth ETF alone deducting $168 million. These enormous scales of inflows clearly affect supply dynamics, driving what analysts describe as supply throttles. Total Eth Staked currently hits 36 million tokens, roughly 30% of total supply, but replacement reservations have been reduced to a nine-year low. Market clarity has improved, but supply tightening can increase prices if inflows continue.
Financial 2026 Crypto Rules affect Ethereum for businesses
Cryptocurrency profit and capital tax rules for fiscal 2026 could add a more complicated layer. Losses allow institutions to offset their profits, but clear guidelines could affect the amount of Treasury and ETH companies on sale due to operational needs. It is clear that understanding both staking yields and tax treatment is important for current corporate finance managers.
