Who really holds the most Ethereum in 2025? Not always people. The largest personal wallet is lost to forgotten keys, while the network itself, through staking contracts, commands over half the ETH in existence.

According to Arkham’s Ether token page, the landscape of Ethereum (ETH) ownership in 2025 is concentrated not in the hands of a few early adopters, but in the mechanics of the network itself.

While staking contracts dominate the rich list, exchanges aggregate billions on behalf of users, and institutions increasingly treat ETH as a treasury asset, signaling Ethereum’s maturation from speculative asset to a productive, utility-driven financial instrument.

Inside Ethereum’s rich list

The single largest holder of Ether today is not a person but the ETH2 Beacon Deposit Contract, which secures the network by locking validator stakes. It currently holds more than 66.8 million ETH, a sum worth roughly $287 billion and representing more than half of all coins in existence.

While the staking contract holds the most value, exchanges form the indispensable liquidity layer of the ecosystem. They constitute a dominant 55% of the top 20 addresses. Coinbase leads this pack with a colossal $18 billion in ETH holdings across its custody and staking services. Binance follows as a close second with nearly $12 billion worth, with Kraken holding a further $1.7 billion.

Beyond exchanges, traditional finance has firmly planted its flag. Asset manager BlackRock now sits atop the heap of financial institutions, holding over 3.2 million ETH to back its spot Ethereum ETF. This marks a pivotal moment of institutional validation.

Meanwhile, a new class of corporate treasury has emerged, mirroring the

Go to Source to See Full Article
Author: Brian Danga