Ethereum Treasury Holdings

Track publicly traded companies and governments that own Ethereum as part of their treasury reserves. Read more

CoinGecko tracks 30 institutions with a total holding of 7,070,692 ETH worth $16.2 Billion, representing 5.86% of Ethereum’s total supply.

Total Entities

Treasury ETH Dominance

#	Entities	Type	Activity in Last 30d	Total Ethereum	Total Cost (USD)	Today's Value (USD)	mNAV	% of Total ETH Supply

1	🇺🇸 BitMine Immersion BMNR.US	Company	+417,483 ETH	5,078,386	-	$11,625,070,656	0.84x	4.208%
2	🇺🇸 SharpLink SBET.US	Company	-	868,699	-	$1,988,562,361	-	0.720%
3	🇺🇸 The Ether Machine ETHM.US	Company	-	496,712	-	$1,137,036,865	-	0.412%
4	🇺🇸 Coinbase Global COIN.US	Company	-	151,175	$348,975,000	$346,058,779	32.74x	0.125%
5	🇺🇸 Bit Digital BTBT.US	Company	-	140,008	$430,300,476	$320,497,471	-	0.116%
6	🇺🇸 BTCS BTCS.US	Company	-	70,787	$215,218,888	$162,040,435	0.64x	0.059%
7	🇺🇸 Forum Markets (formerly ETHZilla) FRMM.US	Company	-	69,802	-	$159,785,645	0.65x	0.058%
8	🇺🇸 Galaxy Digital Holdings Ltd GLXY.US	Company	-	61,137	$180,946,000	$139,950,359	6.22x	0.051%
9	🇺🇸 FG Nexus FGNX.US	Company	-	40,093	$157,711,000	$91,777,970	0.40x	0.033%
10	🇰🇾 Yueda Digital Holding YDKG.US	Company	-	19,928	-	$45,619,807	-	0.017%
11	🇺🇸 Bullish BLSH.US	Company	-	14,200	-	$32,505,604	3.60x	0.012%
12	🇺🇸 Eightco Holdings ORBS	Company	-	11,068	-	$25,336,058	-	0.009%
13	🇨🇳 Intchains ICG.US	Company	-	8,816	-	$20,180,944	-	0.007%
14	🇰🇷 Parataxis Ethereum, Inc. 290560.KQ	Company	-	8,691	-	$19,894,803	-	0.007%
15	🇯🇵 Quantum Solutions 2338.T	Company	+300 ETH	6,668	$19,693,911	$15,265,730	-	0.006%
16	🇯🇵 Def Consulting 4833.T	Company	-	4,571	$20,591,621	$10,463,926	-	0.004%
17	🇺🇸 Canaan CAN.US	Company	-	3,952	-	$9,046,630	33.09x	0.003%
18	🇨🇳 SOS Limited SOS.US	Company	-	2,949	-	$6,752,444	-	0.002%
19	🇺🇸 Gemini Space Station GEMI.US	Company	-	2,741	$9,590,000	$6,274,497	2.85x	0.002%
20	🇰🇾 BTC Digital BTCT.US	Company	-	2,135	$6,000,000	$4,887,286	-	0.002%
21	🇺🇸 Exodus Movement EXOD.US	Company	+17 ETH	1,857	-	$4,250,909	-	0.002%
22	🇺🇸 Circle Internet Group CRCL.US	Company	-	1,744	$4,520,000	$3,992,238	-	0.001%
23	🇹🇭 The Brooker Group BTC.BK	Company	-	1,444	-	$3,305,957	1.72x	0.001%
24	🇺🇸 GameSquare Holdings GAME.US	Company	-	1,343	$3,985,640	$3,075,007	19.68x	0.001%
25	🇺🇸 DigiPowerX DGX.V	Company	-	1,000	-	$2,289,127	-	0.001%
26	🇺🇸 Cosmos Health COSM	Company	-	474	$2,000,000	$1,086,992	-	0.000%
27	🇺🇸 LIXTE Biotechnology LIXT.US	Company	-	300	-	$686,738	-	0.000%
28	🇺🇸 Phunware PHUN	Company	-	8	-	$18,359	-	0.000%
29	🇰🇷 Bitmax Co 377030.KQ	Company	-	0	-	-	-	-
30	🇨🇦 DeFi Technologies DEFI.NE	Company	-	0	-	-	1.81x	-

Frequently Asked Questions Show

About Ethereum Treasuries

Ethereum treasuries are corporate strategies where companies hold ETH on their balance sheets as part of their financial reserves. Unlike traditional cash holdings, these positions serve multiple purposes — hedging against inflation, giving shareholders exposure to blockchain technology, and generating passive income through Ethereum's Proof of Stake mechanism. ETH held this way appears as an asset on the organization's official financial statements, similar to how Bitcoin treasuries work, but with the added ability to earn yield.

What is the difference between an Ethereum treasury and a Bitcoin treasury?

The fundamental difference is yield. Bitcoin treasury companies like Strategy operate on a buy-and-hold model, relying on price appreciation as their primary return driver — Bitcoin has no native yield capability. Ethereum treasury companies can stake their ETH to earn around 3% APY through the network's Proof of Stake mechanism, making it a productive asset that generates ongoing cash flow. Ethereum treasuries also offer access to DeFi protocols, liquid staking, and restaking opportunities, but come with additional complexity around smart contract risk, slashing penalties, and liquidity management that Bitcoin custody does not require.

Which company holds the most Ethereum?

BitMine Immersion Technologies is the largest corporate Ethereum holder in the world. Under the chairmanship of Tom Lee and CEO Jonathan Bates, the company pivoted from Bitcoin mining to focus exclusively on an Ethereum treasury strategy, rapidly accumulating ETH through a combination of PIPE deals and large-scale stock offering programs.

What are the risks of holding Ethereum in a corporate treasury?

The main risks include Ethereum's price volatility (which directly impacts balance sheets through mark-to-market accounting), smart contract vulnerabilities when using liquid staking or DeFi protocols, slashing penalties (where validators can permanently lose a portion of staked ETH for protocol violations or extended downtime), liquidity constraints during market stress, and regulatory uncertainty.