Ethereum’s market dynamics are shifting as spot ETFs and corporate treasuries continue to absorb a growing share of the circulating ETH supply. Recent data shows that spot Ethereum ETFs now control over 6.3 million ETH surpassing 5% of total supply while corporate treasuries collectively hold more than 4 million ETH. This combined accumulation, representing nearly 8% of all Ethereum in circulation, underscores a strong institutional appetite and tightening liquidity across exchanges.
According to recent assessments from Standard Chartered, corporate treasuries have accelerated their Ethereum acquisitions since mid-summer, mirroring the growth trajectory of ETFs. Among the most aggressive buyers, BitMine has emerged as a major player, holding 2.83 million ETH making it one of the largest corporate holders in the market. As a result, exchange reserves of ETH have fallen to multi-year lows, amplifying supply-side constraints.
This contraction in available supply has become a structural catalyst for price appreciation. As the ETH/BTC pair approaches yearly highs, investor sentiment is being buoyed by consistent inflows into spot products. While ETFs provide regulated custody and transparency, the long-term “buy-and-hold” strategy favored by corporate treasuries further restricts liquid supply, tightening market conditions even more.
However, analysts at VanEck caution that potential dilution risks may arise from Ethereum’s staking and issuance dynamics. Despite these concerns, current trends suggest that the combined accumulation from ETFs and treasuries will continue to underpin ETH’s price momentum through the remainder of the year. At the time of reporting, Ethereum was trading at $4,679, marking a 2.35% increase over the past 24 hours, according to CryptoAppsy data.