The approval of spot Bitcoin and Ethereum ETFs in the US marks a significant milestone in the cryptocurrency sector, while also increasing institutional adoption.
At this point, while Bitcoin ETFs broke records with their inflows, Ethereum ETFs did not meet expectations.
While institutional purchases of Bitcoin are closely followed in the market, Ethereum (ETH) purchases do not attract as much attention as BTC.
While MicroStrategy was the institutional company with the most BTC in Bitcoin, Arkham announced the largest company in Ethereum.
Biggest Institutional Ethereum Bull Announced!
Blockchain analytics firm Arkham announced in its X post that US-based cryptocurrency asset management company Grayscale is the largest Ethereum holder among institutional investors.
He added that Arkham Grayscale currently holds approximately $6.62 billion worth of ETH.
“Grayscale is the largest institutional holder of ETH.
They have $6.62 billion worth of ETH.”
GRAYSCALE IS THE LARGEST INSTITUTIONAL HOLDER OF ETH
THEY HAVE $6.62 BILLION OF ETH pic.twitter.com/WR8jHCsaAF
— Arkham (@arkham) December 30, 2024
After Bitwise recently applied for a new spot Bitcoin ETF to track stocks of companies holding at least 1,000 BTC, ETF Store president Nate Geraci shared a table showing which companies hold more than 1,000 BTC.
According to this table, MicroStrategy ranked first, followed by Marathon Digital, Riot, Hut8, Tesla and Coinbase.
*This is not investment advice.
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