- A single unidentified buyer has accumulated 221,166 ether worth about $946 million in the past week.
- The purchases came from FalconX, Galaxy Digital and BitGo, and were spread across six wallets.
- Ethereum traded near $4,250, lifting the combined value of the top 10 corporate ether treasuries to about $13.06 billion.
- BitMine Immersion Technologies leads corporate holders with 1.15 million ETH, followed by SharpLink Gaming with 522,000 ETH and The Ether Machine with 345,000 ETH
An unidentified entity has accumulated 221,166 Ethereum (ETH), worth around $946 million, over the past week, with transactions involving crypto giants, such as Galaxy Digital, FalconX and BitGo.
The unidentified entity bought 49,533 ether valued at $212 million in the past 24 hours, pushing its total purchases to 221,166 ether worth $946 million, according to blockchain analytics platform Lookonchain’s post on X.
The tracker described the buyer as a “mysterious institution” and said the holdings are spread across six wallets, with the largest one holding around $181 million in ether, and funded through transactions from Galaxy Digital, FalconX and BitGo.
ETH Corporate Treasuries Hit $13 Billion as Price Surges Above $4,000
These mysterious movements comes as Ethereum rose above 4,000, trading near 4,250 at the time of writing, lifting the combined value of the top 10 corporate (ETH) treasuries to around $13.06 billion.
BitMine Immersion Technologies is the largest corporate holder of Ethereum, with about 1.15 million (ETH) valued at nearly 5 billion dollars. The company increased its holdings sharply in recent weeks with purchases worth approximately 2 billion dollars, and has stated it aims to acquire up to 5% of Ethereum’s total supply.
SharpLink Gaming is the second-largest holder with about 522,000 (ETH) valued at $2.23 billion, following a purchase of roughly $264 million. The company has also started staking part of its holdings, generating more than 900 (ETH) in rewards.
In third place comes The Ether Machine, which owns around 345,000 ETH valued at 1.5 billion dollars after recent acquisitions. The company purchased 15,000 (ETH) worth about 57 million dollars to celebrate Ethereum’s 10th anniversary, bringing its total holdings to 334,757 ETH.
Final Thought
The structure of the mysterious transactions, originating from FalconX, Galaxy Digital and BitGo, and distributed across multiple new wallets, suggests they could be over-the-counter purchases by an institutional client or internal transfers between custodians. They may also represent preparations for staking, collateral use in lending markets, or inventory building by trading firms linked to exchange-traded products.
Shifting to the broader picture, the growing competition to accumulate large Ethereum holdings reflects a move away from bitcoin-centric treasuries, which are viewed largely as a passive store of value, toward Ethereum, which is increasingly seen as a yield-generating store of value.
Read More: Why Corporate Crypto Treasuries are Missing Billions in Rewards? Read P2P Report Here!
