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- Bitcoin is indeed the most popular cryptocurrency among the reserves of several entities.
- Seemingly, Bitcoin is not the sole asset to be the dominant one, but Ethereum is also a popular asset that companies hold as they believe in the potential of the asset class.
- According to data, Galaxy Digital Holdings accounts for nearly 46% of the 212,875 ETH that twelve companies hold.
Last year witnessed a lot of talks and discussions regarding bitcoin treasuries or public firms highlighting Bitcoin (BTC) on their balance sheets. However, this crowned cryptocurrency is not only a virtual asset being held by treasuries. The second-largest virtual asset Ethereum (ETH), has become another popular one that many firms are known to hold in their reserves after Bitcoin.
Ethereum Crypto’s Emerging Dominance
Data by Bitcoin treasuries list, countries, exchange-traded funds, private firms and public companies hold 1,559,047 Bitcoin worth nearly $66 Billion. Though Bitcoin is reserved massively by these entities, Ethereum (ETH) is another largest asset being held by them as they seem to believe in the future of the asset class highly.
Recently it was reported that Three Arrows Capital had bought 31,345 ETH and Su Zhu, the co-founder, highlighted to Bloomberg that he stays optimistic about investments in crypto.
Another data by cryptotreasuries.org highlights the statistics related to twelve companies and funds that hold Ethereum. At the time of writing, the data shows that the 12 companies hold 212,875 Ether, which is worth approximately $700 million.
Furthermore, the largest holder is Galaxy Digital Holdings, as it has 98,892 ETH in its reserves. The next on the listicle is Ether Capital Corporation which has 43,512 ETH. The third is Coinbase Global which holds 31,787 ETH. Following them are other companies like Meitu, HIVE Blockchain Technologies, BTCS, etc.
The same website shows statistics for Bitcoin (BTC) that 32 companies, out of which 29 are Public companies and the rest 3 are private companies which altogether hold 359,246 BTC. MicroStrategy remains a Publicly traded company with the largest BTC holdings of 125,051 BTC. And the next following is Tesla which holds 38,300. Whereas if we talk about the Private ones, Block.one stands at the top, having 140,000 BTC.
At the time of writing, the flagship cryptocurrency is trading at $42,300 with a market cap of $804,076,856,104. At the same time, Ethereum is trading at 3,185 with a market cap of $383,290,592,278.
