While institutional interest in altcoins continues to increase after Bitcoin, Ethereum (ETH) is one of the most preferred altcoins.
As institutional ETH purchases continue, institutions and companies' Ethereum holdings have surpassed 10% of the total supply. Experts believe this is an indication that the institutionalization of the Ethereum market is progressing rapidly.
According to data from StrategicETHReserve, Ethereum treasuries hold approximately 5.66 million ETH, while spot Ethereum ETFs hold approximately 6.81 million ETH. Total institutional holdings, according to the data, have risen to 12.48 million ETH, representing 10.31% of the Ethereum supply.
The surge in ETF inflows in recent months has coincided with a surge in companies modeled after the largest institutional bull, Strategy (formerly MicroStrategy), and public companies like BitMine and SharpLink adding large amounts of ETH to their balance sheets.
According to StrategicETHReserve data, the largest institutional Ethereum company is Bitmine, headed by Tom Lee, with 2.83 million ETH in its possession, worth $13.25 billion.
Sharplink Gaming comes in second place with 838.7 thousand ETH worth $3.93 billion, and The Ether Machine comes in third with 496.7 thousand ETH worth $2.3 billion.
*This is not investment advice.