Strategic reserves of Ethereum among institutional investors are significantly increasing, reflecting a growing interest in this cryptocurrency.
Growth of Ethereum's Strategic Reserves
In recent months, a noticeable growth in strategic reserves of Ethereum among institutional holders has been observed. According to the Strategic ETH Reserve website, as of June 19, institutional reserves amounted to 1.190 million ETH, nearly equivalent to $3 billion, representing over 1% of the total ETH supply.
Major Holders of Ethereum
The majority of these reserves are controlled by the five largest entities, which hold over 70% of all institutional ETH. The Ethereum Foundation is the largest holder with 269,431 ETH, followed by SharpLink, which acquired 176,271 ETH on June 13 and has staked 95% of it. Notably, the US government also holds around 60,000 ETH, primarily obtained from asset seizures.
Growing Interest in Ethereum
While Bitcoin remains the leading asset for strategic reserves, there is a growing interest in Ethereum from both corporate entities and government bodies. For example, Michigan’s state pension plan allocated $10 million to acquire Ethereum. Cryptocurrency companies like Bit Digital and Coinbase have also bolstered their ETH reserves.
The increase in Ethereum's strategic reserves and the growing interest from institutional investors highlight its rising significance in the financial market.
