According to a recent report by Bitwise, 95% of all Ethereum (ETH) currently owned by public companies was acquired within the past quarter. Public firms collectively purchased approximately 4.4 million ETH, marking an astonishing 1,937% increase from the previous quarter.

The report highlighted that only 27 public companies are currently holding this digital asset, which has a total value of $19 billion as of the end of the last quarter.

“95% of all ETH held by public companies was purchased in the past quarter alone. Watch this space.” - Bitwise, @BitwiseInvest, October 15, 2025

Major Supply Constraints

Digital asset treasuries currently hold 5.9 million ETH valued at $23.6 billion at current market prices, amounting to about 4.9% of the total Ethereum supply, which is around 121 million ETH.

BitMine Immersion Technologies holds the most substantial share, owning over 3 million ETH, which represents 51% of its total holdings. They are actively purchasing as Ethereum prices fell below $4,000 during the recent market movements.

Analyst ‘Crypto Gucci’ noted that various factors, including current institutional demand and reduced liquidity, are shaping the market landscape. He remarked that this unprecedented demand and liquidity situation is setting the stage for a potential Ethereum supercycle.

Ethereum’s Market Performance

Despite high interest from institutions, Ethereum remains under selling pressure, especially during U.S. trading hours, showing a downtrend lately. The price dipped to below $4,000 but rebounded slightly, currently being 19% below its peak.

Additional Insights

The report discusses three market dynamics contributing to the supply vacuum: corporate treasuries acquiring large amounts, exchange-traded funds netting millions of ETH, and significant stakes yet to be liquidated.

With ETH’s unique market conditions, experts are predicting substantial price movements in the near future.