Top 10 Biggest Holders of Ethereum and the Billions They Are Worth
Key Takeaways
- Ethereum adoption is surging, with massive inflows from institutions, ETF products, and Web3-native companies.
- The 10 largest ETH holders collectively control around 83.9 million ETH, valued at over $285 billion.
- Publicly listed companies are rapidly accumulating ETH, echoing the Bitcoin treasury trend—but with a distinctly Ethereum twist tied to staking and DeFi.
Ethereum (ETH), once the domain of open-source idealists and decentralized app builders, is rapidly maturing into something much bigger: a global financial infrastructure asset.
As the network transitions into its post-Merge identity and institutional staking gains traction, ETH has evolved beyond being “gas” for smart contracts.
It has now become a cornerstone of on-chain finance and a strategic treasury asset for companies, funds, and governments.
But where exactly is all that ETH sitting?
Just as Bitcoin has its whales, Ethereum’s landscape is shaped by massive smart contracts, exchange wallets, staking vaults, and a few known individuals who got in early.
From the Beacon Chain to Coinbase, Grayscale, and new corporate players, here’s who’s holding the most ETH in 2025—and how much they’re worth.
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Ethereum by the Numbers
2025 Performance
Ethereum’s journey through 2025 has been anything but flat.
After starting the year around $3,248, ETH slumped to $1,796 in April during a broad market correction that also hit Bitcoin.
However, momentum shifted in Q2, with institutional inflows from spot Ethereum ETFs and a resurgence in DeFi breathing new life into the market.
That momentum carried into the summer. In late July, Ethereum was trading near $3,715, brushing up against its yearly high of $3,765.
Just weeks later, in August, ETH shattered its previous 2021 record of $4,878, climbing to a new all-time high of $4,965.
Ethereum’s market cap now stands at roughly $534 billion, and technical indicators remain strong.
Weekly charts show bullish continuation patterns, while the relative strength index (RSI) points to sustained buying pressure.
On-chain activity reinforces this outlook, with rising transaction volumes and an uptick in smart contract deployment.
Looking ahead, Ethereum’s trajectory for the rest of 2025 could hinge on key regulatory decisions—particularly the SEC’s stance on staking within ETFs, a factor that could either fuel further upside or cool momentum.
Circulating Supply, Market Cap, & Trading Volume
- Circulating ETH Supply: 120.7 million ETH are in circulation; however, the maximum supply is not limited.
- Total Market Capitalization: $534 billion.
- Daily Trading Volume: Ethereum’s trading volume is rising with growing institutional demand, reaching a few hundred billion in daily trading volume. ETH recorded $36 billion in trading volume in mid-July.
Ethereum Wallet Distribution and Largest Holders
The top 10 Ethereum holders control around 83.9 million ETH, accounting for roughly 70% of the current circulating supply, worth over $300 billion at today’s prices.
If you widen the lens to include staking contracts and large custodial pools, that number climbs even higher.
By some estimates, these expanded holdings represent up to 52% of Ethereum’s total supply, or about $120 billion in value.
The 200 largest Ethereum wallets now hold over 62.7 million ETH, underscoring just how top-heavy ETH ownership remains.
However, unlike Bitcoin—where dormant whale wallets like Satoshi Nakamoto’s cast a long shadow—Ethereum’s most oversized holders are anything but idle.
Most actively participate in the ecosystem: staking contracts secure the network, exchange wallets support millions of users, or institutional custodians facilitate everything from ETFs to validator services.
So while the top ETH wallets may appear…
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