Ethereum treasuries held by 69 entities have surpassed 4 million ETH, valued at over $17 billion. Public companies own approximately 2.6 million ETH, while U.S. spot Ethereum exchange-traded funds hold about 6.7 million ETH, representing roughly 5.5% of the total ETH supply.

Ethereum's value has surged by 70% since June, significantly outpacing Bitcoin's 9% gain, pushing the ETH/BTC ratio to a 2025 high. The rise is attributed to substantial spot ETF inflows and increased corporate treasury holdings, while Bitcoin's market activity has cooled following recent economic data.

Bernstein reports that Ethereum treasuries have acquired 876,000 ether, representing about 0.9% of the total supply, adding new demand for the asset. While these treasuries can generate yields through staking, they also introduce liquidity and smart contract risks that differ from traditional Bitcoin treasury models. Analysts suggest that the success of ETH treasuries will depend on effective risk management as corporate interest in the asset grows.