Ethereum’s 2025 Power Players: Exchanges, Funds, and Whale Investors Dominating the Holdings
Ethereum's ownership landscape shifts as institutional giants tighten their grip on the world's second-largest cryptocurrency.
Exchange Empire Expands
Major trading platforms now control staggering ETH reserves—custodial holdings hit unprecedented levels as retail investors keep assets on exchanges despite decades of 'not your keys' warnings.
Fund Frenzy Goes Mainstream
Hedge funds and ETFs aggressively accumulate positions, treating Ethereum as digital gold with yield—because why settle for traditional assets when you can have internet bonds that sometimes crash 40% in a day?
Whale Watching 2025
Anonymous wallets holding thousands of ETH continue to manipulate markets with single transactions—proving decentralization sometimes means concentrating power in fewer hands than traditional finance.
The big keep getting bigger while retail traders provide exit liquidity—some things never change, even in decentralized futures.
Ethereum’s performance this season has been nothing short of spectacular. It has outpaced even Bitcoin, attracting huge interest from investors, exchanges, and institutions alike.
From major ETFs and corporate treasuries to early adopters, a mix of players now control the largest shares of ETH.
But who owns the most Ethereum? Let’s break it down.
A Look at Ethereum’s Supply
According to data from Coinbase, Ethereum’s total circulating supply stands at 121 million ETH. Unlike Bitcoin, ethereum doesn’t have a fixed supply cap. However, upgrades like EIP-1559 burn a portion of transaction fees, slowly reducing the amount of ETH in circulation over time.
One of the biggest holders of ETH isn’t a person or a company. According to Etherscan, the Beacon Deposit Contract alone holds about 68.2 million ETH, which makes up over 56 percent of the total supply.
This ETH is staked to secure the proof-of-stake network, making this contract a cornerstone of Ethereum’s infrastructure.
Exchanges & Custodians Dominate ETH Holdings
Centralized exchanges and custodians are among the largest holders of Ethereum:
- Coinbase: over 5.3 million ETH
- Binance: over 4.2 million ETH
- BlackRock: around 3.2 million ETH
- Wrapped Ether (WETH): holds 2.27 million ETH
Other notable entities include Base Network’s bridge, Robinhood, Upbit, Bitmine, Kraken, OKX, Bitfinex, and Arbitrum.
According to Arkham, the U.S government also holds around 60,000 ETH seized from various cases, including hackers and fraudsters.
Ethereum’s popularity extends well beyond Wall Street. High-profile figures such as Donald Trump, Mark Cuban, and Justin Bieber have wallets containing significant amounts of ETH, highlighting its growing mainstream appeal.
Ethereum ETFs Attract Institutional Interest
Ethereum ETFs also hold millions of ETH across various funds.
According to data from Strategic ETH Reserve, the largest is the iShares Ethereum Trust (ETHA) with 3.8 million ETH, followed by Grayscale Ethereum Trust (ETHE) with 1.2 million ETH and Fidelity’s Ethereum Fund (FETH) with 817,500 ETH.
ETFs like Bitwise, VanEck, Franklin, 21Shares, and Invesco hold tens to hundreds of thousands of ETH each. They collectively hold 6.74 million ETH, worth about $29.6 billion, making up roughly 5.6% of the total supply.
Ethereum in Corporate Treasuries
Several companies hold significant amounts of ETH as part of their treasury or operations. Bitmine Immersion leads with 1.8M ETH worth $7.86 billion, followed by SharpLink Gaming with 798K ETH worth $3.5 billion, The Ether Machine with 345K ETH worth $1.51 billion and others.
Together, 15 entities hold around 3.3 million ETH, representing 2.75% of the total supply.
Several individuals also control large amounts of ETH.
Vitalik Buterin holds around 250K–280K ETH while the Winklevoss twins own 150K–200K ETH. Co-founders Joseph Lubin and Anthony Di Iorio also reportedly hold roughly 500K ETH and 50K–100K ETH. Rain Lohmus, an early Ethereum pre-sale investor, also holds approximately 250,000 ETH.
Never Miss a Beat in the crypto World!Stay ahead with breaking news, expert analysis, and real-time updates on the latest trends in Bitcoin, altcoins, DeFi, NFTs, and more.
FAQs
Who is the largest holder of Ethereum?The Beacon Deposit Contract holds the most ETH (68.2M), representing over 56% of supply, as it secures the proof-of-stake network via staking.
Which institutions hold significant Ethereum?Coinbase (5.3M ETH), Binance (4.2M ETH), and BlackRock (3.2M ETH) are top holders. ETFs like iShares (3.8M ETH) also hold major stakes.
Do celebrities own Ethereum?Yes. Figures like Donald Trump, Mark Cuban, and Justin Bieber hold substantial ETH, reflecting its mainstream appeal beyond institutional investors.
How much Ethereum do corporate treasuries hold?Corporate treasuries hold ~3.3M ETH (2.75% of supply). Bitmine leads with 1.8M ETH, followed by SharpLink Gaming (798K ETH).
