Ethereum Treasuries Exceed 4 Million ETH

The ETH holdings of 69 entities have crossed the 4.1 million mark, translating to an approximate value of $17.6 billion as organizations increasingly turn to Ethereum for investment. According to data from StrategicETHReserve, these holdings represent about 3.39% of the total ETH supply and are concentrated among entities holding more than 100 ETH each. At the forefront is BitMine Immersion Technologies, which boasts the largest stash with around 1.5 million ETH, valued at about $6.6 billion. The company recently pivoted from bitcoin mining to focus on accumulating Ether. Following closely is SharpLink Gaming, holding nearly 740,800 ETH—worth about $3.2 billion. Other notable holders include The Ether Machine with approximately 345,400 ETH and the Ethereum Foundation with 231,600 ETH. Digital asset treasuries (DATs) are gaining popularity, with Ethereum becoming a prominent asset in the crypto sector. Public companies alone account for a total of 2.6 million ETH in holdings, valued at about $10.9 billion, as reported by The Block's dashboard. In the broader market, U.S. spot Ethereum exchange-traded funds currently hold roughly 6.7 million ETH—around 5.5% of the current ETH supply, based on The Block's ETF data. Disclaimer: The Block is an independent news source providing coverage on crypto-related matters. As of November 2023, Foresight Ventures is a significant investor in The Block, which continues to operate autonomously to offer unbiased and timely news. This article is for informational purposes and is not intended as legal or financial advice.