As of 2025, more than 60% of all Ether (ETH) is controlled by just 10 addresses. However, the majority of these Ethereum holdings belong to staking contracts, cryptocurrency exchanges, or investment funds rather than individual holders.
Nearly half the total supply of Ether resides in a single smart contract known as the Beacon Deposit Contract. This contract plays a vital role in supporting Ethereum’s proof-of-stake consensus mechanism.
Large financial institutions such as BlackRock and Fidelity, along with publicly listed companies, now possess millions of ETH tokens. This indicates that Ether is increasingly being adopted as a significant treasury asset across sectors.
The ownership landscape of Ethereum has evolved beyond just early adopters. Currently, ownership prominently includes platforms and services built upon the Ethereum network, reflecting its widespread adoption and utility.
The top holders include:
-
Beacon Deposit Contract – holding approximately 56% of circulating ETH.
-
Major exchanges like Coinbase and Binance collectively holding several millions of ETH.
-
Institutional investment trusts such as BlackRock’s iShares Ethereum Trust managing millions of ETH.
-
Public companies incorporating Ether into their corporate treasuries.
Tracking and analyzing Ethereum holdings utilizes on-chain data combined with tools like Nansen’s Token God Mode, Dune Analytics, and Etherscan. These platforms help categorize addresses as smart contracts, exchanges, or individual wallets.
While the largest holder is the Ethereum network itself through the staking contract, other whales contain significant balances, including notable figures like Vitalik Buterin and institutional wallets.
Understanding this distribution is essential for evaluating Ethereum’s decentralization, market dynamics, and the impact of large holders on price and network security.
