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The race for an Ethereum treasury reserve is heating up, as multiple big companies continue to accumulate the second-largest crypto asset at a rapid rate and scale. While accumulation at the institutional level has spiked, the Ethereum Foundation has lost its position as the leader in ETH holding rankings.
In a notable shift within the Ethereum ecosystem, the Ethereum Foundation has lost its supremacy as the number 1 holder of ETH. Crypto News Hunters’ report shows that the foundation is no longer one of the top three holders of ETH, as new institutional players surge ahead in accumulation.
Such a development reflects a shift in dominance from early players to new big financial institutions. In addition to reflecting a maturing market where power is moving from initial builders to large-scale capital allocators, this development underscores the growing institutional trust in Ethereum’s long-term prospects.
Data from Crypto News Hunter revealed that the Foundation is currently sitting at the fourth position in the largest wallet ranking. The Foundation has fallen below Bitmine Immersion Tech, SharpLink Gaming, and The Ether Machine.
By the end of July, the Ethereum Foundation boasted of 234,000 ETH in its treasury reserve, falling off the top 3 list of holders. Meanwhile, Bitmine Immersion Technologies, SharpLink, and The Ether Machine collectively purchased an astounding 416,000 ETH last week alone.
Once a dominant figure in Ethereum’s early development and treasury administration, the Foundation has been steadily lowering its holdings to make way for emerging corporate organizations and well-funded crypto-based businesses.
According to Crypto News Hunters, this pattern persists, and the Foundation usually sells whenever ETH reaches a local peak, frequently pointing to developer salaries. However, big companies continue to accumulate during the period and play the long game.
With the recent significant accumulation of ETH observed among institutional investors, the ETH strategic reserve has witnessed a notable growth to unprecedented levels. Reports from Whale Insider show that the overall ETH strategic reserve held by institutions has surpassed the $10 billion value, marking a new milestone for the altcoin.
According to Whale Insider, the total strategic Ethereum reserve now holds over 2.73 million ETH, valued at a whopping $10.54 billion. As seen in the report, this massive accumulation, which represents about 2.27% of the ETH total supply in circulation, is collectively held by 64 entities.
Bitmine Immersion continues to lead the charge with over 625,000 ETH in its treasury reserve. Meanwhile, SharpLink Gaming and The Ether Machine rank second and third, with 438,200 ETH and 334,800 ETH in their reserve, respectively.
At the time of writing, ETH was trading at $3,629, demonstrating a decline of over 6% in the last 24 hours. While prices have declined, its trading volume is showing a modest increase of about 8% within the same time frame.
