Key Points
- Corporate and institutional accumulation of Ethereum has reached a significant milestone, with 10.31% of the network’s supply now held collectively.
- Spot ether ETFs and treasury companies have been major contributors to this trend.
Institutional and corporate entities have reached a significant accumulation milestone with Ethereum. According to data from StrategicETHReserve, treasury companies and spot exchange-traded funds (ETFs) now collectively hold 12.48 million ETH. This represents 10.31% of the Ethereum network’s total supply.
Breakdown of Ethereum Holdings
Treasury holders are responsible for approximately 5.66 million ETH, equating to 4.68% of the total. Spot ether ETFs, on the other hand, hold roughly 6.81 million ETH, which makes up 5.63% of the total Ethereum supply.
Spot ether ETFs have played a significant role in this accumulation. Inflows reached $621.4 million in October, a substantial increase from $285.7 million in September, following a record $3.9 billion in August.
Corporate Interest in Ethereum
This trend coincides with an increasing number of public companies adding ETH to their balance sheets. Companies such as BitMine and SharpLink have followed this pattern, often compared to the Bitcoin treasury playbook popularized by Strategy.
SharpLink recently announced that unrealized profits from its Ethereum treasury strategy, initiated in early June, have exceeded $900 million. For corporates, ETFs, and custody providers, the combination of liquidity, staking yield, and clearer regulations have made Ethereum a more practical treasury asset than in previous cycles.
The Significance and Future Trends
Reaching the 10% mark means a significant share of Ethereum’s supply is held in long-term vehicles that typically rebalance on schedule rather than reacting to short-term price fluctuations.
This can help stabilize flows during market stress, but it also heightens the market’s sensitivity to ETF subscriptions and redemptions.
As we approach the end of the year, key factors to watch include the pace of ETF inflows, staking participation from corporate wallets, and any changes in U.S. and EU disclosure rules governing token holdings.
If allocations expand beyond early adopters, the share of Ethereum held off-exchange could increase further, tightening liquid supply across spot and derivatives venues.
