Ethereum Corporate Holdings Reach 6% of Total Supply Amid ETF Decline

The amount of Ethereum held by corporations has surpassed $16 billion, accounting for approximately 6% of the cryptocurrency's total supply. This figure is comprised of 7.33 million ETH, according to data from CoinGlass.

Corporate holdings have been increasing as institutional exposure via Ethereum ETFs decreases. In May, these funds experienced about -$300 million in net outflows. Additionally, reports indicate that BlackRock's Ethereum ETF has seen a 5% drop in institutional ownership and Harvard has exited its position.

The divergence between Ethereum's performance and Bitcoin's has been notable, with the former experiencing an 8.9% decline in May, nearly eight times weaker than Bitcoin's mild 1.37% pullback. This internal-driven correction may be a result of structural changes in market positioning.