As corporate accumulation of Ethereum rises, the asset has been acquired by several publicly traded companies, prompting discussions about the future of the ecosystem.
Corporations Accumulating Ethereum
Since June of this year, more than 1% of the circulating supply of Ethereum has been acquired by a few public companies. As of August 1, 2023, the top 15 institutions collectively hold over $6.22 billion in ether, representing more than 1.4% of the total supply. Leading the pack is Bitmine Immersion Technologies with 625,000 ETH (~$2.45B), followed by SharpLink Gaming with 438,190 coins (~$1.62B). Meanwhile, the Ethereum Foundation holds 234,600 ETH.
Ethereum's 10th Anniversary
This flurry of corporate Ethereum buying coincides with the network's 10th anniversary, marking a decade since its launch in 2015 and unparalleled uptime. Ethereum now underpins decentralized finance, NFTs, stablecoins, and tokenization platforms, making it increasingly attractive to institutional treasuries.
Global Context
Beyond the U.S., Switzerland’s SIX Digital Exchange has piloted Ether-based tokenized bonds. South Korea’s Mirae Asset and Singapore's Temasek have quietly built currency exposures through DeFi tools. Meanwhile, El Salvador, despite focusing on Bitcoin, is reportedly exploring Ether staking frameworks.
Thus, this shift in asset ownership from a foundation-led model to a corporate-dominated structure may signal the beginning of Ethereum's institutional phase.
