Over the past year, there has been a lot of discussion about bitcoin hoards or public companies putting bitcoin on their balance sheets. However, the top crypto asset by market valuation is not the only digital currency held by treasuries. Ethereum has become a prominent treasury asset as several companies are known to hold the second leading cryptocurrency in their reserves.
Ethereum treasures grew
According to the Bitcoin Treasures List, exchange-traded funds, countries, public companies, and private companies hold 1,559,047 bitcoins (BTC) worth approximately $66 billion. While bitcoin is being held by these entities, ethereum (ETH) is also held by funds and companies that believe in the future of cryptocurrency. For example, it was reported on Thursday 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 optimistic about cryptocurrency investments.
The cryptotreasuries.org web portal shows data linked to 12 different funds and companies that hold ethereum. Data currently says the entities hold 212,875 ethers worth about $700 million. The biggest holder on this particular list is Galaxy Digital Holdings, as cryptotreasuries.org claims the company holds 98,892 ether at the time of writing. This would mean that Galaxy Digital Holdings commands 46.45% of the 212,875 ether in the 12 entities.
The second largest holder on the list is Ether Capital Corporation with 43,512 ether. Ether Capital Corporation’s stock is 20.44% of the aggregate recorded on cryptotreasuries.org. Other notable holders on the ethereum bond list include Coinbase Global (31,787 ether), Meitu (15,000 ether) and Hive Blockchain (13,331 ether). There is also another ethereum treasure list hosted at ethtreasuries.pory.app which has several different holders listed.
For example, the web portal notes many entities such as M31 Capital, Gerber Kawasaki Investment Management, Arca Labs, Heat Capital and FD7 Ventures with “undisclosed” ethereum values. This specific list of ether treasures is not up to date and some of the sources are questionable compared to the list hosted on cryptotreasuries.org. However, the list hosted at ethtreasuries.pory.app mentions companies like Three Arrows Capital and Grayscale Ethereum Trust, both of which have tens of thousands of ether.
What do you think of the list of companies that store millions of dollars of ethereum in treasuries? Let us know what you think about this matter in the comments section below.
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