Publicly traded companies are now aggressively accumulating Ethereum, with firms holding over 6% of the total ETH supply. Here are the top seven holders:
1. BitMine Immersion Technologies
Led by Fundstrat CIO Tom Lee, BitMine Immersion Technologies has acquired 4.6 million ETH, valued at $10 billion. The firm aims to hold 5% of the circulating ETH supply and recently upsized its funding raise to $20 billion.
2. Sharplink
Formerly SharpLink Gaming, Sharplink holds 869,154 ETH, worth $1.86 billion. With Ethereum co-founder Joe Lubin on its board, the company is committed to accumulating 1 million ETH and has raised $400 million in a direct offering.
3. The Ether Machine
The Ether Machine, set to go public via a merger, holds 498,600 ETH, valued at $1.07 billion. Co-founded by Andrew Keys, the firm focuses on on-chain activities and staking to grow its treasury.
4. Bit Digital
Bit Digital, transitioning from Bitcoin mining, now holds 155,434 ETH, valued at $333 million. Despite being underwater, the firm continues to accumulate ETH and invest in AI compute through WhiteFiber.
5. Coinbase
Crypto exchange Coinbase holds 151,175 ETH, valued at $324 million, up from 115,700 ETH in 2024. The firm also holds 14,000 Bitcoin, making it a significant player in both major cryptocurrencies.
6. BTCS Inc.
BTCS Inc. holds 70,322 ETH, valued at $151 million. The firm employs a proactive strategy, including staking and NFT acquisitions, and pays a 'Bividend' to shareholders.
7. Forum (Formerly ETHZilla)
Initially branded as ETHZilla, the firm rebranded to Forum after shifting focus to tokenizing real-world assets. It currently holds 61,650 ETH, valued at $132 million.
These firms are shaping the future of crypto treasuries and influencing the broader adoption of Ethereum.