Ethereum is booming, and big companies are piling into it. This massive institutional adoption has pushed Ethereum’s total treasury reserves to over $11 billion!
Institutional Investors Love Ethereum
Big firms are snapping up Ethereum like crazy. This isn’t just a trend; it shows a growing belief in Ethereum’s long-term success. Decentralized companies are also building up their reserves to handle market ups and downs and fund future growth. It’s a sign of a maturing ecosystem.
One crypto news source, Phoenix, reports that around 67 large companies now hold a staggering 3,040,000 ETH, worth a massive $11.32 billion – that’s over 2.5% of all Ethereum in circulation! This shows how traditional finance is increasingly embracing crypto.
Who’s Holding All That ETH?
Bitmine Immersion Technologies is the top dog, holding a whopping $3.1 billion worth of ETH. Other major players include SharpLink Gaming, The Ether Machine, and the Ethereum Foundation itself.
Treasuries Beat ETFs?
While Ethereum treasury reserves are soaring, Ethereum ETFs are seeing money flow out. Standard Chartered Bank thinks investing in Ethereum treasuries is a better deal than buying ETH ETFs. Their expert, Geoffrey Kendrick, says treasuries offer better value. He points to a Net Asset Value (NAV) multiple of around 1, meaning the market value of a treasury company is roughly equal to the value of its Ethereum holdings. He believes this will stay above 1 because treasuries help investors avoid some tough regulations. Basically, treasuries are looking like a safer, more profitable bet right now./p>