Ranking of the 7 biggest Ethereum Treasury Holdings by ETH Holdings

Takeaways

• The companies aren’t only holding ETH, they also stake and restake to earn a steady income onchain.

• Mega-holders such as BitMine (1,5 million ETH), can influence liquidity and distribution of validators. They may even be able to upgrade dynamics.

• SharpLink and other firms provide weekly updates on ETH to give real-time information about staking, accumulation of ETH.

• Coinbase is the leader in separating ETH into two distinct currencies. “held for operations” ETH “held for investment.”

Ether corporate treasuries are a key element in the balance sheet strategy of many public companies. By mid-2025, an increasing number of companies will switch to Ether.ETHAs a primary Treasury Reserve instead of only holding Bitcoin or cash (BTC).

This trend is unique in its approach. Companies are staking on yield instead of just buying ETH. restaking for higher returns Regular investor updates are published.

This trend is a way for traditional investors to get exposure to ETH through equities, without having the hassle of holding ETH in self-custody.

The article includes a list of the top seven Ether Treasury companies by August 2025.

1. BitMine Immersion NYSE: BMNR

BitMine 8-K Exhibit filed The company has a total Ether of 1,523,373 as of August 17, 2025. This is part of the US Securities and Exchange Commission’s (SEC) filing. $6.6-billion crypto position This includes BTC as well as cash. 

Why does it matter?

BitMine, the biggest corporate holder of ETH in the world, has positioned itself as the “Strategy of Ether.” Achieving a scale of well over one million ETH means that treasury policies and staking can affect market structure and liquidity.

2. SharpLink Gaming, Inc. (NASDAQ: SBET),

SharpLink Investor update, August 19, 2025. purchased In the previous week, 143.593 ETH was acquired. The total number of ETH held as at August 17th, 2025 was now 740,760. staking rewards continuing to accumulate.

SharpLink has the highest growth rate in the ETH-treasury group. Weekly disclosures show An aggressive accumulation plan funded by at-the market (ATM), direct offerings and staking in order to maximize on-chain yield.

Did you Know? The At-the Market (ATM), enables public companies to sell shares on the market directly at current prices. By 2025, companies like Bit Digital and SharpLink have been using ATM programs to raise money quickly and then convert it into ETH.

3. Coinbase (Nasdaq: COIN)

Coinbase Form 10-Q Q2 details for 2025 136 782 ETH classified You can also read about how to get started. “crypto assets held for investment” 30th June 2025. 30, 2025 (fair value $339.5 million). The filing also shows that 11,195 ETH are under the ‘Undervalued Assets’ heading. “crypto assets held for operations.” This ranking was based on the true reserves of the Treasury, as reported by major trackers.

Coinbase’s position is unique. It holds ETH for both its operations (validators and network fees) as well as a longer-term investment. A SEC filing offers one of the most transparent views into a company’s accounting for ETH.

4. Bit Digital (Nasdaq : BTBT).

Bit Digital announced 18 2025 that it purchased 19.683 ETH via a registered Direct Offering, bringing total holdings up to about 120.306 ETH. 18. 2025 announced that the company had acquired 19,683 Eth through an registered direct offer, increasing its holdings total to 120,306 Eth. The management called ETH “foundational” To its infrastructure and onchain yield strategy. 

Company pairs treasury accumulation with validator operations, earning native ETH yield while compounding reserves — a model many 2025 entrants now follow.

5. ETHZilla (Nasdaq: ETHZ)

ETHZilla SEC filing The company’s accumulated amount of 94,675 Ethereum is shown in the exhibit 99.1 (dated August 18, 2025). The average selling price was $3,902.20. There were also $187,000,000 in cash and equivalents. 

ETHZilla is a new cryptocurrency that has been filed with the SEC. high-profile shift to an ETH treasury modelStarting with a large initial stake, plans are in place for external asset specialists to manage onchain yield programmes.

6. BTCS, Nasdaq: BTCS

BTCS reported It increased Ether Holdings by 70,140 Ether on August 14, 2025. Ether (valued over $321 millions on August 12, 2012) is being scaled down. “Builder+” The infrastructure for validators is also being developed.

This company is positioned as a leading provider of an “Ethereum-first” A public company that focuses on block-building and stakes alongside an expanding treasury. The company also borrows money from decentralized sources backed by ETH to increase capital efficiency.

Did you Know? Ether reached a new high in November 2021. climbing above $4,870 as the US Federal Reserve A more moderate stance was signaled and demand by institutions surged. Analysts expect ETH will push beyond $5,000 by 2025.

7. Fundamental Global/FG Nexus (Nasdaq: FGNX) 

Fundamental Global (initiating its project as FG Nexus). disclosed It now holds on August 11, 2025 The company launched its accumulation strategy on Aug. 10 2025 and will have 47,331 Ethereum by that date. Also, it outlined plans on how to stake and restake ETH to maximize yield.

FG Nexus, a brand new company, aims to create “one of the largest” ETH treasuries. The strategy is based on restaking, staking and using the same game plan that will drive 2025’s wave of corporate ETH.

Ether Treasury Reserves: Why they matter

Public companies that buy Ether and keep it as a reserve for treasury do more than add an asset to their financial statements. The ETH market, and the ecosystem are directly affected. 

The large corporate purchase reduces the circulating supply which creates upward price pressure, especially when combined. Ether’s deflationary tokenomics after Ethereum Improvement Proposal 1559. The effect of staking reserves is that they lock ETH off liquid markets and further restrict availability.

Corporate treasuries strengthen Ethereum’s entire network. Validators are run by companies. contribute to security and decentralization While earning stake rewards, their reserves grow. 

Investors will be encouraged by the fact that corporate adoption of ETH is a sign of institutional trust in ETH’s long-term value as a store, and not just a speculative investment.

The corporate ETH treasuries increase demand, constrain supply, and enhance the Ethereum ecosystem.

Ether held by corporations is reshaping market dynamics

The corporate Treasury is now the key indicator to look out for when tracking Ether adoption. The 2025 ETH Wave: Here’s What it Means for You

• Purchase, stake and compound The companies that are buying ETH don’t buy it just for themselves. staking and restaking On-chain yield can be generated by generating a steady output.

• Updates every week build trust SharpLink releases weekly reports on ETH, providing investors with real-time information.

• Scale moves markets: BitMine Immersion has proven that corporate Treasury can have a significant impact on validator sets, liquidity and more.

• Accounting Matters Coinbase has set the bar by clearly separating ETH used for investments from ETH used to run operations.

• Stocks are ETH exposure Public companies provide a regulated means to obtain ETH exposure. However, shares can trade at a price above or beneath the value of net ETH.

Ether treasuries: Beware of the risks!

Corporate ETH Reserves bring both legitimacy and demand. introduce risks you should watch:

• Market volatility: ETH prices remain highly volatile. An abrupt downturn in the market can reduce corporate cash reserves and cause shareholder anxiety.

• Uncertainty regarding regulatory issues: Digital assets still have a long way to go. The future regulation may impact the way treasuries will be reported, taxed and even permitted.

• Concentration risk: A handful of companies that hold millions in ETH could distort the liquidity. When a major holder decides to sell, the price may rise sharply.

• Risks associated with operational and custody risk: Running validators, securing private keys Technical vulnerabilities are introduced by managing stake contracts and other management tasks.

• Maximum equity exposure: Investors using shares as ETH proxies may find that share prices are trading at discounts or premiums, causing mismatches to the actual ETH price.

The article is not intended to provide investment advice. Risk is inherent in every investment decision and trade. The reader should always do research prior to making a final decision.