Nearly All ETH Held by Companies Was Purchased in Past Quarter Alone

Ethereum’s digital asset vaults are a whole new story, with almost all of their holdings having been acquired over the past few months.

95% of all ether held by public companies was purchased in the past quarter alone, Bitwise reported on Wednesday.

“Watch this space,” the crypto asset manager said.

Public companies added 4.4 million ETH in the third quarter, resulting in a 1,937% increase from the previous quarter. She added that there were only 27 public companies that owned the assets, which totaled $19 billion at the end of the period.

95% of all ETH held by public companies was purchased in the last quarter alone.

Watch this space.

Corporate ETH Adoption, Q3 2025 Release pic.twitter.com/9hDARuo9vQ

— Bitwise (@BitwiseInvest) October 15, 2025

Big supply pressure

Digital asset vaults currently hold 5.9 million Ethereum worth $23.6 billion at current market prices, According to To a secret. This equates to about 4.9% of the total asset supply, which is about 121 million.

BitMine Immersion Technologies holds the lion’s share of the total at 51% or just over 3 million ETH, which puts it halfway towards its goal of 5% of the total supply. it has been buying It recently declined as Ethereum price fell below $4,000 during the weekend liquidation event, and it remains in a buy mode. It appears that BitMine just purchased 104,336 ETH worth $417 million. I mentioned Lookonchain on Thursday.

DATs are one of the three “supply voids” that did not exist in previous market cycles; He said Crypto Gucci analyst, who added that 40% of total ether was locked and illiquid. He said it enters the cycle with “record institutional demand and the smallest liquid float in history,” before he predicted prices would “go nuclear.”

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The second supply void is exchange-traded funds, which have taken 6.84 million ETH worth $27 billion, equivalent to 5.6% of the total supply. Stake is the third void in supply, with 35.7 million ETH still illiquid due to a long exit queue. These three alone represent 48.4 million ETH, or 40% of the total supply.

particle:$ Ethereum The supply evaporates.

$24 billion is held in treasury bonds.
$28 billion locked in spot ETFs.
$146 billion was the most liquid.

40% of the entire supply has been suspended from circulation.

This is the setup for the Ethereum super cycle. pic.twitter.com/gbumlVBrQV

– Merlijn Trader (@MerlijnTrader) October 15, 2025

ETH is still in decline

Despite clear and vocal institutional demand for the asset, Ethereum is still in decline. In a very common pattern these days, buying occurs during the Asian trading session, and selling occurs when America wakes up.

ETH fell from $4,200 to below $4,000 again late Wednesday, but managed to recover slightly higher during the Asian session on Thursday. The asset has been on a downtrend for the past 10 days and is currently 19% below its all-time high.