Institutional interest and demand for Ethereum has increased dramatically recently, and this is reflected in the ETH price.
While the ETH price experienced its biggest monthly rise in recent years, the amount of Ethereum (ETH) held by institutional investors exceeded $10 billion.
According to data from the Strategic Eth Reserve (SEV), the total value of Ethereum treasuries has now reached $10.58 billion, which corresponds to 2.26% of the total supply of ETH.
Accordingly, institutional Ethereum holdings increased significantly last month, from $3 billion at the end of June to $10.5 billion, representing an increase of approximately $7.5 billion.
It was stated that this data covers 64 institutions with more than 100 ETH.
Currently, the largest institutional holder of Ethereum is Bitmine Immersion Tech, which has shifted its primary focus from Bitcoin mining to Ethereum accumulation.
According to SEC data, Bitmne holds 625,000 ETH ($2.42 billion) worth of ETH. The company’s president, Tom Lee, previously said he aims to buy 5% of the Ethereum supply and sell it as stock.
Bitmine is followed by Joseph Lubin’s SharpLink Gaming, which holds a treasury of 438,200 ETH ($1.69 billion). Ether Machine comes in third, with a total holding of 334,800 ETH worth $1.29 billion, after purchasing 15,000 ETH.
According to this data, three institutional Ethereum treasuries have surpassed the Ethereum Foundation’s ETH reserves, which now hold 234,600 ETH.
Geoffrey Kendrick, head of global digital asset research at Standard Chartered, predicted that ETH accumulation will continue and that ETH treasury firms could hold up to 10% of the total supply.
*This is not investment advice.
