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Ethereum’s strategic reserves and ETF stashes are throwing some serious heft around the market right now. Data from strategicethreserve.xyz shows these reserves sitting on 2.96 million $ETH—valued at roughly $10.8 billion—spread among 63 participants, locking away close to 2.45% of the entire supply.
$10.8B in Ethereum Locked Away — Here’s Who Holds the Keys
Loading up on ethereum ($ETH) has become the move lately, with players ranging from publicly traded giants and private companies to decentralized autonomous organizations (DAOs), foundations, decentralized finance (DeFi) platforms, and more locking down $10.8 billion worth of the digital asset. On the public company front, the Strategic $ETH Reserve (SER) leaderboard from strategicethreserve.xyz is topped by heavyweight holders with seriously deep Ethereum vaults.
Leading the pack of publicly traded companies is Bitmine Immersion Tech, flaunting a hefty 833,100 $ETH stash valued at roughly $3.04 billion. Next up is Sharplink Gaming with 438,200 $ETH ($1.6 billion), followed by The Ether Machine in third with 345,400 $ETH ($1.26 billion). Bit Digital and BTCS Inc. close out the top five, holding $439.2 million and $255.7 million in $ETH, respectively. In the mid-tier, Gamesquare Holdings, $ETH Strategy, and Intchains Group hold their own with reserves in the tens of millions.
On the lighter end of the holdings chart, $BTC Digital Ltd. sits on 2,100 $ETH, while Centaurus Energy Inc. keeps a modest 137 $ETH—still a tidy half-million dollars in value. The top ten paints a picture of variety, with tech, gaming, and blockchain-native Wall Street players locking away meaningful $ETH positions.
Once you take publicly traded companies out of the equation, the top 25 ethereum treasuries reveal an even more formidable lineup. Leading is the Ethereum Foundation with 233,600 $ETH ($852.8 million), followed by Pulsechain Sac holding 166,300 $ETH ($607.2 million) and Coinbase with 136,800 $ETH ($499.4 million). Mantle, Golem Foundation, and Gnosis DAO each boast more than 66,000 $ETH, while the U.S. Government’s 60,000 $ETH ($218.9 million) position is also a standout.
DAO heavyweights like Lido, Arbitrum, and Optimism join infrastructure staples such as Ethereum Name Service (ENS), Status, and Frax Finance in securing tens of thousands of $ETH each. The roster wraps up with Request Network, Aave DAO, Onchain Foundation, and a mix of other private blockchain outfits, all holding between 7,000 and 36,000 $ETH—showcasing ethereum’s broad reach across decentralized ecosystems and non-public sector players.