Over the past year, there has been a lot of talk about bitcoin treasuries or public companies putting bitcoin on their balance sheets. However, the leading crypto asset by market valuation is not the only digital currency held by Treasuries. Ethereum has become a top treasury asset as a number of companies are known to hold the second crypto in their reserves.
Ethereum treasuries have increased
According to the bitcoin treasury list, exchange-traded funds, countries, public companies, and private companies own 1,559,047 bitcoins (BTC) worth approximately $66 billion. While bitcoin is hidden away by these entities, ethereum (ETH) is also held by funds and companies that believe in the future of the crypto asset. For example, it was reported Thursday that fund manager Three Arrows Capital bought 31,345 ether. On the same day, Three Arrows Capital co-founder Su Zhu told Bloomberg that he remains bullish on crypto investments.
The cryptotreasuries.org web portal displays data related to 12 different funds and companies that hold Ethereum. Data currently shows that the entities hold 212,875 ethers worth nearly $700 million. The largest holder in this particular list is Galaxy Digital Holdings, as cryptotreasuries.org states that the company holds 98,892 ethers at the time of writing. This would mean that Galaxy Digital Holdings controls 46.45% of the 212,875 ethers in the 12 entities.
The second largest holder on the list is Ether Capital Corporation with 43,512 ethers. Ether Capital Corporation’s reserve represents 20.44% of the aggregate recorded on cryptotreasuries.org. Other notable holders on the Ethereum treasury list include Coinbase Global (31,787 ether), Meitu (15,000 ether), and Hive Blockchain (13,331 ether). There is also another list of Ethereum treasuries hosted at ethtreasuries.pory.app which has a number of different holders listed.
For example, the web portal notes numerous entities such as M31 Capital, Gerber Kawasaki Investment Management, Arca Labs, Heat Capital, and FD7 Ventures with “undisclosed” amounts of Ethereum. This particular list of ether treasuries is outdated and some of the sources are questionable, compared to the list hosted at cryptotreasuries.org. However, the list hosted at ethtreasuries.pory.app mentions companies like Three Arrows Capital and Grayscale Ethereum Trust, both of which hold tens of thousands of ethers.
What do you think of the list of companies storing millions of dollars worth of Ethereum in treasuries? Let us know what you think about this topic in the comments section below.
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