Ethereum treasuries hit $17b in holdings, what’s next for price?

Institutional demand in Ethereum is heating up, and corporate investors are not slowing down on aggressive accumulation.

Ethereum (ETH) holdings among corporate treasuries have exceeded 4.1 million ETH, valued at roughly $17.6 billion, according to the latest data from StrategicETHReserve. This accounts for about 3.4% of the total ETH supply, spread among 69 entities.

The largest position holder is BitMine Immersion, which has been aggressively accumulating since launching an ETH-focused treasury strategy in July. The Nevada-based company, which held only $500 million worth of ETH just over a month ago, has grown its stash to 1.52 million ETH, valued at $6.6 billion, as previously reported by crypto.news.

BitMine has set a long-term target to eventually control 5% of the total ETH supply, driven by its belief in the asset’s long-term potential.

Coming in second, SharpLink Gaming holds approximately 741,000 ETH, valued at $3.2 billion at current prices. The Nasdaq-listed firm was among the first ETH treasury companies, beginning its purchases in June. 

SharpLink Co-CEO Joseph Chalom told crypto.news in a recent interview that Ethereum is viewed as the “trustware of global finance,” and SharpLink is positioning itself as a major corporate player. The company’s CEO Joseph Lubin also emphasized that the firm is committed to becoming the largest public ETH holder, highlighting its long-term bet to outpace other corporate buyers.

Other large holders include The Ether Machine, with roughly $1.49 billion in ETH, followed by the Ethereum Foundation with $996 million, while the remaining 65 entities hold more modest positions.

Ethereum price to recover on treasury boost? 

Trading at slightly over $4,286 at the time of writing, ETH has been in a downtrend over the past week. Following its rally above $4,700 earlier in the month, the second-largest cryptocurrency has surrendered the majority of its gains, down roughly 10% on the week.

Analysts have noted that ongoing accumulation by corporate buyers could act as a catalyst for the next price leg up, similar to how Bitcoin (BTC) benefited from growing institutional demand. 

Meanwhile, alongside the treasuries, exchange-traded funds are showing a similar trend. Collectively, ETF holdings now account for roughly 5% of circulating supply, valued at over $25 billion. This highlights growing demand from the sector, supporting ETH’s long-term outlook.

Together, this wave of demand is expected to provide support and boost ETH’s price. Standard Chartered forecasts ETH could reach $7,500 by year-end, $12,000 by late 2026, $18,000 in 2027, and $25,000 by 2028–29.

With long-term accumulation targets from firms like BitMine and SharpLink, Ethereum appears well-positioned for a positive trajectory. However, for now, prices remain flat, and it remains to be seen how this influx of treasury and ETF funds will impact short-term price movement.