• Corporate and institutional treasuries now hold over US$10.5 billion in Ether, representing 2.26% of ETHs circulating supply across 64 major organisations.
  • Bitmine Immersion Tech leads with 625,000 ETH, followed by SharpLink Gaming and The Ether Machine, whose combined holdings now exceed the Ethereum Foundations own reserves.
  • Some firms like Bernstein have warned that corporate ETH holdings are expected to grow due to staking yields, yet they face complexities like liquidity constraints (unstaking delays) and smart contract risks compared to simpler Bitcoin treasury models.

Corporate Ether reserves have crossed a symbolic milestone, with onchain data showing more than US$10B (AU$15.5B) now sitting in company-controlled wallets. 

The figures compiled by StrategicETHReserve indicate that 64 organisations each holding at least 100 ETH, collectively command 2,26/% of the assets circulating supply. The tally includes publicly listed firms, crypto exchanges, DeFi protocols, nonprofits, and even government entities.

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The largest corporate holder is Bitmine Immersion Tech, which has pivoted from Bitcoin mining to a deliberate accumulation of Ether. The company controls 625.000 ETH, about US$2,42B (AU$3.77B), and has set an aggressive target to stake 5/% of Ethereums total supply.

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Next is Joseph Lubins SharpLink Gaming with 438.200 ETH in reserve. The third slot was just taken by The Ether Machine, which disclosed the purchase of 15.000 ETH this week, lifting its treasury to 334.800 ETH. Together, these three corporate wallets now outrank the Ethereum Foundations own reserves, which stand at 234.600 ETH.

The shift marks a rare inversion where privatesector entities hold more of Ethereums native asset than the foundation that funds and steers its core development. 

Currently, the price of ETH hovers above US$3,700 (AU$5,760), a slight decrease of 1.1% in the last 24 hours. All in all, ETH is one of the best performing assets in the past 30 days, with a surge of over 54%.

ETH/USDT. Source: TradingView.

Strategists such as Geoffrey Kendrick of Standard Chartered see room for corporate reserves to climb toward 10/% of total supply, arguing that ether offers a broader treasury case than Bitcoin thanks to staking yields and DeFi integrations.

However, broker firm Bernstein believes that Ethereumfocused corporate treasuries face a more complex and riskladen landscape than their Bitcoinholding counterparts, particularly when those firms stake their ETH to earn yield.

As Crypto News Australia reported, the firm stated that while staking can generate steady cashflow returns that feed directly into operating income, it also introduces structural hurdles. Chief among them are liquidity constraints, including multiday delays in unstaking and the added security risks tied to interacting with smart contracts and DeFi yieldoptimisation tools.

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The firm contrasted this with the relatively straightforward Bitcoin treasury model employed by companies like Michael Saylors Strategy, where holdings can be liquidated without protocollevel delays or reliance on external smart contracts.

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