50% Off! Beat the market in 2025 with InvestingProCLAIM SALE

Who Holds The Most Ethereum (ETH)? How Coinbase, Grayscale, Robinhood And Binance Stack Up

Published 01/05/2024, 15:38
Updated 01/05/2024, 16:41
Who Holds The Most Ethereum (ETH)? How Coinbase, Grayscale, Robinhood And Binance Stack Up
BTC/USD
-
ETH/USD
-
USDT/USD
-
BNB/USD
-

Benzinga - One of the most interesting aspects of blockchain is that everything is public. All transactions, wallets and portfolios are entirely accessible to anyone, allowing for an unprecedented amount of insight into a financial asset class.

The uses of the data can range from monitoring overall trading activity and flows to seeing what the largest wallets and firms are doing with their positions. Arkham Intelligence is a blockchain analytics platform particularly interested in the second application. It cross-references financial disclosures by firms and individuals with on-chain activity to match up entities with specific wallet addresses.

Don't Miss:

  • Dogecoin millionaires are increasing — investors with $1M+ in DOGE revealed!
  • According to Cathie Wood, holding 6 Ethereum (ETH) could make you a millionaire, here’s why it can be true.

With Arkham's insights, anyone can see how the largest entities in crypto are trading. One interesting application is looking at the largest firms in the space.

Coinbase, one of the largest crypto companies in the world, operates a centralized exchange, wallet service and a layer-2 called Base. Coinbase's portfolio is worth nearly $80 billion. The wallet is composed almost entirely of Ethereum (ETH) and Bitcoin (BTC). The firm holds over 900,000 BTC, currently worth over $55 billion. It also holds over 6.6 million ETH worth roughly $20 billion.

While Coinbase operates as a crypto custodian, Grayscale is a crypto asset manager. It creates a handful of funds and ETFs that allow investors to access crypto products. In January, it was one of the first companies to offer a spot Bitcoin exchange-traded fund (ETF) converted from a previously released futures ETF. Grayscale's portfolio has more than 99% of its value in ETH and BTC. It owns 303,050 BTC worth $18.6 billion and 2.98 million ETH worth $9 billion. Grayscale holds $27.6 billion in crypto assets.

Trending: 1 in 4 Americans own a share of Bitcoin according to NASDAQ, how much would $10 get you today?

While it is mostly known for its equity platform, Robinhood began offering crypto several years ago. The crypto platform offers a handful of the most popular tokens, but the portfolio is mostly invested in ETH, BTC and Shiba Inu (SHIB). The wallet has 140,000 BTC worth $8.6 billion, 1.5 million ETH worth $4.7 billion and 42.5 trillion SHIB worth $1 billion.

As the largest crypto exchange in the world, it is no surprise that Binance (BNB) has the largest portfolio, worth over $200 billion. It 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 $13.2 billion.

Coinbase has the largest ETH holding on the list. Its $20 billion of ETH is more than 5% of the total supply. The four firms hold a combined 15.5 million ETH, which is roughly 12.7% of the supply.

While this may make it seem like 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 firms is under the discretion of the millions of people who hold ETH on these brokerages.

Read Next:

  • Bitcoin has jumped another 45% already this year – how much would you need to get started today?
  • If you invested $100 in DOGE when Elon Musk first tweeted about it in 2019, here’s how much you’d have today.

© 2024 Benzinga.com. Benzinga does not provide investment advice. All rights reserved.

Read the original article on Benzinga

Latest comments

Risk Disclosure: Trading in financial instruments and/or cryptocurrencies involves high risks including the risk of losing some, or all, of your investment amount, and may not be suitable for all investors. Prices of cryptocurrencies are extremely volatile and may be affected by external factors such as financial, regulatory or political events. Trading on margin increases the financial risks.
Before deciding to trade in financial instrument or cryptocurrencies you should be fully informed of the risks and costs associated with trading the financial markets, carefully consider your investment objectives, level of experience, and risk appetite, and seek professional advice where needed.
Fusion Media would like to remind you that the data contained in this website is not necessarily real-time nor accurate. The data and prices on the website are not necessarily provided by any market or exchange, but may be provided by market makers, and so prices may not be accurate and may differ from the actual price at any given market, meaning prices are indicative and not appropriate for trading purposes. Fusion Media and any provider of the data contained in this website will not accept liability for any loss or damage as a result of your trading, or your reliance on the information contained within this website.
It is prohibited to use, store, reproduce, display, modify, transmit or distribute the data contained in this website without the explicit prior written permission of Fusion Media and/or the data provider. All intellectual property rights are reserved by the providers and/or the exchange providing the data contained in this website.
Fusion Media may be compensated by the advertisers that appear on the website, based on your interaction with the advertisements or advertisers.
© 2007-2024 - Fusion Media Limited. All Rights Reserved.