Ethereum
Who holds the most Ethereum (ETH)? How Coinbase, Grayscale, Robinhood and Binance Compare
Who holds the most Ethereum (ETH)? How Coinbase, Grayscale, Robinhood and Binance Compare
One of the most interesting aspects of blockchain is that everything is public. All transactions, wallets and portfolios are fully accessible to anyone, allowing unprecedented insight into a financial asset class.
Uses of the data can range from monitoring overall trading activity and flows to visualizing what the largest portfolios and firms are doing with their positions. Arkham Intelligence is a blockchain analysis platform particularly interested in the second application. It cross-references financial disclosures from companies and individuals with on-chain activity to match entities with specific wallet addresses.
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With Arkham insights, anyone can see how the biggest crypto entities are trading. An interesting application is to look at the largest companies in the industry.
Coinbase, one of the largest crypto companies in the world, operates a centralized exchange, wallet service, and layer 2 called Base. The Coinbase wallet worth nearly $80 billion. The wallet is composed almost entirely of Ethereum (ETH) and Bitcoin (BTC). The company holds over 900,000 BTC, currently worth over $55 billion. He also holds over 6.6 million ETH, worth around $20 billion.
While Coinbase functions as a crypto custodian, Grayscale is a crypto asset manager. It creates a handful of funds and ETFs that give investors access to crypto products. In January, it was one of the first companies to offer a Spot Bitcoin exchange-traded fund (ETF) converted from a previously published futures ETF. Grayscale’s portfolio has over 99% of its value in ETH and BTC. He owns 303,050 BTC worth $18.6 billion and 2.98 million ETH worth $9 billion. Grayscale holds $27.6 billion in crypto assets.
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Although best known for its stocks platform, Robinhood began offering cryptocurrencies several years ago. The crypto platform offers a handful of the most popular tokens, but the portfolio is primarily invested in ETH, BTC, and Shiba Inu (SHIB). The wallet contains 140,000 BTC worth $8.6 billion, 1.5 million ETH worth $4.7 billion, and 42.5 trillion SHIB worth $1 billion of dollars.
As the largest crypto exchange in the world, it is no surprise that Binance (BNB) has the largest wallet, worth over $200 billion. He holds 165 million BNB worth $94 billion, 640,000 BTC worth $40 billion, $27.2 billion worth of Tether (USDT), and 4.4 million ETH worth worth $13.2 billion.
The story continues
Coinbase has the largest ETH wallet on the list. Its $20 billion worth of ETH represents more than 5% of the total supply. The four companies hold a total of 15.5 million ETH, or approximately 12.7% of the supply.
While this may give the impression that the supply of ETH is heavily concentrated among a few entities, Coinbase, Robinhood, and Binance hold assets for their customers. The portion of the supply held by these companies is at the discretion of the millions of people who hold ETH on these brokerages.
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