Corporate Ether purchases drop sharply, but a few deep-pocketed players continue expanding long-term holdings
Corporate accumulation of Ether (ETH) is losing momentum after a strong surge in late summer, signaling a cooling phase in the broader treasury trade. New data shows that while overall institutional buying has declined sharply, a small group of dominant holders continues to strengthen its grip on the asset.
Fresh analysis indicates that digital asset treasuries (DATs) reduced their Ether purchases by more than 80% over the past three months, falling from nearly 2 million ETH in August to just 370,000 ETH in November. Market analysts say the drawdown reflects shifting risk appetite among companies that accumulated heavily earlier in the year.
One company drawing significant attention is BitMine Immersion Technologies, now the largest corporate holder of ETH. The firm added roughly 679,000 ETH—over $2.1 billion—within the last month, putting it more than halfway toward its stated goal of accumulating 5% of the total Ether supply. Analysts highlight that BitMine’s additional $882 million in cash reserves signals capacity for continued accumulation.
Another treasury player, Republic Technologies, recently secured $100 million through a convertible note designed specifically to fund future Ether purchases. The note carries 0% interest and no collateral requirements, an unusual structure that removes common debt-servicing risks seen in crypto-focused companies.
“What we’re seeing is consolidation of ownership among entities with long-term strategic plans, not speculative intent,”
Overall, while treasury inflows have slowed, the enduring accumulation by major players suggests continued confidence in Ether’s long-term role in institutional portfolios.
Disclaimer
This content is for informational purposes only and does not constitute financial, investment, or legal advice. Cryptocurrency trading involves risk and may result in financial loss.