Institutional demand for Ethereum has risen to new highs during this market cycle.
According to Strategic ETH Reserve data, Spot Ethereum Exchange Traded Funds (ETFs) and Digital Asset Finance Companies (DATCOs) currently manage over 12.5 million ETH, representing approximately 10% of the token’s circulating supply.
This marks a dramatic expansion from April, when these institutions collectively held around 4 million ETH, representing less than 3% of the total supply.
This rise reflects institutional investors increasingly turning to Ethereum exposure through regulated ETFs and on-chain treasury allocations as tokenized assets and stablecoin network fundamentals grow.
Decentralized applications on Ethereum host over $365 billion in user assets, while the network’s native token trades at 1.45x the ecosystem TVL, according to Token Terminal data.
Ethereum ETF holdings
According to data from Strategic ETH Reserve, the Spot Ethereum ETF currently holds 6.92 million ETH, worth approximately $30.76 billion based on the ETH price of $4,448 at the time of writing. The assets are spread across nine products across eight issuers.
BlackRock leads by a wide margin, managing more than 4 million ETH (worth $17.6 billion), more than half of all Ethereum held in ETFs. Grayscale will split approximately 1.8 million ETH between ETHE and ETH Trust.
Fidelity ranks third with around 778,200 ETH, while Bitwise holds around 151,600 ETH. Other issuers such as VanEck, Franklin Templeton, Invesco Galaxy, and 21Shares each hold less than 100,000 ETH.
This strong accumulation trend coincides with increased investor interest in regulated Ethereum exposure.
According to SosoValue data, cumulative net inflows into the Ethereum ETF have exceeded $15 billion since launch, indicating that institutional demand remains strong despite market volatility.
ETH Financial Company
Meanwhile, the Ethereum-focused Digital Asset Treasury Company (DATCO) holds a total of 5.66 million ETH, representing 4.68% of the circulating supply and a value of $25.19 billion.
This number highlights Ethereum’s growing importance as a corporate financial asset, second only to Bitcoin in institutional accumulation.
July and August were the peak of this financial expansion, with several companies joining the wave of acquisitions. Although momentum has since slowed, major holders have continued to increase their stakes.
BitMine Immersion Tech tops the list with 2.83 million ETH (equivalent to approximately $12.59 billion), representing 2.34% of the digital asset supply. The company aims to ultimately control 5% of all ETH and sees this as strategic preparation for broader network deployment.
However, the ETH Treasury’s efforts have drawn criticism from industry experts who argue that South Korean retail funds are propping up some of these companies.
Bitcoin advocate Samson Moe claimed that these individual traders have about $6 billion to pursue their next “strategy.”
Nevertheless, asset management firm VanEck argued that the strong wave of adoption by institutional investors shows that ETH is a strong competitor to Bitcoin in the race for supremacy as a store of value.
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(Tag translation) Ethereum
