The Ethereum Elite: Top 10 Institutional Holders Dominating ETH in 2025
Wall Street's crypto playbook just got an Ethereum upgrade. While retail traders chase memecoins, these institutional whales are quietly stacking ETH—here's who's holding the cards.
Grayscale isn't the only player anymore. A new breed of hedge funds and corporate treasuries are rewriting the rules of crypto accumulation.
From pension funds dipping toes to crypto-native VCs going all-in, the ETH ownership landscape looks radically different than during the 2021 bull run.
One thing's clear: When traditional finance finally 'gets' Ethereum, they don't buy—they take wholesale delivery. Just don't expect them to tweet diamond hands at 3AM.
Ethereum Foundation Leads with Over 244K ETH
According to data from CoinPedia The Ethereum Foundation sits firmly at the top with 244,483 ETH, highlighting its continued central role in the development and stewardship of the Ethereum ecosystem. Close behind is SharpLink Gaming, holding 205,634 ETH, suggesting significant blockchain ambitions in the gaming sector.
Coinbase and PulseChain Secure Top Institutional Spots
Coinbase ranks as the largest exchange-based holder, securing 137,334 ETH in treasury. This underscores its positioning as a key gateway for ETH liquidity. Just ahead is PulseChain Sac, a crypto fundraising initiative, holding 166,303 ETH.
Meanwhile, Bit Digital, a publicly listed crypto miner, holds 100,603 ETH—but more importantly, it leads in growth with a 264% surge over the past 30 days, according to the data. This rapid accumulation suggests shifting treasury strategies among mining firms, possibly in anticipation of ETH’s next cycle leg.
U.S. Government Makes the List
Surprisingly, the U.S. Government also appears among the top holders with 59,965 ETH, indicating continued asset seizures and custody following enforcement actions. While not an active participant, its presence showcases the growing entanglement between crypto assets and state actors.
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Other Notable Entities
The list also includes decentralized organizations such as Gnosis DAO (66,587 ETH), Lido DAO (37,164 ETH), and Golem Foundation (101,234 ETH), reflecting how treasury management is evolving across DeFi and Web3-native entities.
Rounding out the top ten is Ethereum Name Service (ENS), with 28,545 ETH, showing how even protocol-specific utility tokens are securing reserves in ETH to bolster operational funding.
Institutional Confidence Continues to Build
The data paints a picture of rising institutional confidence in Ethereum, not just as a transactional platform, but as a long-term asset worth holding on balance sheets. With the Ethereum Foundation maintaining its dominant role and exchanges like Coinbase and mining firms like Bit Digital ramping up holdings, the narrative of ETH as a treasury asset appears stronger than ever.
