The approval of spot Bitcoin and Ethereum ETFs in the US is a significant milestone for the cryptocurrency sector and further promotes institutional adoption.
While Bitcoin ETFs have seen record-breaking inflows, Ethereum ETFs have not met expectations.
Institutional purchases of Bitcoin receive significant attention in the market, whereas Ethereum (ETH) purchases do not generate as much interest as BTC.
MicroStrategy holds the largest amount of BTC among institutional companies, while Arkham has announced that Grayscale is the largest company holding Ethereum.
The blockchain analytics firm, Arkham, revealed in a recent post that Grayscale, a US-based cryptocurrency asset management company, is the biggest institutional holder of Ethereum.
Arkham stated that Grayscale currently holds approximately $6.62 billion worth of ETH.
“Grayscale is the largest institutional holder of ETH, with $6.62 billion worth of ETH.”
According to a table shared by ETF Store president Nate Geraci, which shows companies holding more than 1,000 BTC, MicroStrategy is ranked first, followed by Marathon Digital, Riot, Hut8, Tesla, and Coinbase.
In related news, Bitwise has recently applied for a new spot Bitcoin ETF that tracks stocks of companies holding at least 1,000 BTC. This move has attracted the attention of institutional Bitcoin bulls.
*This information is not intended as investment advice.
