Ethereum treasury holdings inch closer to $20 billion

Ethereum’s popularity among crypto treasury companies is surging as the $500 billion crypto asset is now becoming a major vehicle for capital allocation.

Data from Strategic ETH Reserve shows that a total of 71 entities now hold over 4.4 million Ethereum, valued at $19.1 billion.

The entities collectively hold nearly 3.7% of the total ETH supply. Bitmine Immersion Tech remains the largest Ethereum holder with 1.8 million coins valued at $7.7 billion.

SharpLink Gaming is at the second spot followed by Ether Machine.

Last month, Ether Machine raised over $650 million in private ether financing. In July, on the 10th anniversary of Ethereum, Ether Machine acquired nearly 15,000 ETH.

"We couldn't imagine a better way to commemorate Ethereum's 10th birthday than by deepening our commitment to ether," said Andrew Keys, Chairman and Co-Founder of The Ether Machine. "We are just getting started. Our mandate is to accumulate, compound, and support ETH for the long term – not just as a financial asset, but as the backbone of a new internet economy."