- SharpLink Gaming leads public ETH holders with 360,807 ETH, over 95% staked for yield, showing a 29% unrealized gain.
- Bitmine Immersion owns 300,657 ETH and aims to hold 5% of ETH’s supply; current gain is at $132.7 million.
- Coinbase, Bit Digital, and BTCS round out the top five, signaling rising Ethereum adoption in corporate treasuries.
Ethereum’s 2025 recovery has propelled corporate treasuries back into profit and there are several public firms holding ETH. After dipping to $1,383 in April, ETH rebounded to nearly $3,700 by late July. This sharp climb stabilized asset valuations for publicly traded companies with ETH exposure.
According to CoinGecko, only twelve firms officially disclose ETH holdings. Yet just ten control the majority share, with over 1 million ETH worth around $3.7 billion held across their balance sheets. July’s price resurgence alone was enough to push all ten into net unrealized profits.
SharpLink Gaming
SharpLink Gaming holds the largest ETH position among public companies at 360,807 ETH, valued at approximately $1.33 billion. The company’s average entry price is at $2,864, a 29% unrealized gain.
Over 95% of its holdings are staked or deployed in liquid staking protocols. This operational strategy allows SharpLink to generate yield while maintaining ETH as its treasury reserve asset.
Bitmine Immersion
Trailing closely, Bitmine Immersion owns 300,657 ETH valued at $1.11 billion. It acquired this position at an average price of $3,251. The resulting gain stands at 13.7% or $132.7 million.
Chaired by Tom Lee, the company reportedly targets ownership of 5% of Ethereum’s circulating supply, equivalent to around 6 million ETH at current levels.
Coinbase
Coinbase ranks third with 137,300 ETH currently worth $507.3 million. This represents 13.7% of all ETH held by public companies. Before SharpLink and Bitmine accumulated ETH, Coinbase held the top spot among corporate holders.
Bit Digital
Next is Bit Digital with 120,306 ETH valued at $444.5 million. Acquired at $239.3 million, this holding shows an 85.8% gain. The company actively stakes ETH to generate additional returns while diversifying its crypto treasury away from Bitcoin.
BTCS
BTCS holds 55,788 ETH, including a recent 22,935 ETH purchase. Its current holding is valued at $206.1 million. BTCS uses ETH for staking and validator services. The company also issued convertible bonds to fund its ETH expansion.
GameSquare
GameSquare owns 10,170 ETH. The firm increased its treasury allocation to $250 million and approved NFT based yield initiatives. These efforts align with a broader Ethereum based investment approach.
Intchains
Intchains Group Limited holds 7,023 ETH. Of this, 676 ETH is staked via Coinbase, while the rest is held directly. The holdings support the company’s Web3 and mining initiatives.
KR1
KR1 plc holds 5,500 ETH. The firm has not added to its position during the last quarter of 2025. However, it remains among the top public holders.
Exodus
Exodus Movement Inc. owns 2,550 ETH. While its total ETH is smaller, the company sees the highest percentage gain at 102.7%. The ETH holdings serve as part of its digital asset reserve.
BTC Digital
BTC Digital Ltd holds 2,135 ETH. Similar to KR1 and Exodus, it has not accumulated ETH in recent months. It remains in profit due to favorable market recovery in July.
Final Overview
SharpLink and Bitmine currently hold over 65.9% of all ETH owned by public companies. Their positions, along with those of Coinbase, Bit Digital, and BTCS, show a growing shift toward Ethereum based corporate reserves. While the adoption remains limited compared to Bitcoin, July’s recovery has shown Ethereum’s rising institutional appeal.
