As of August 2025, 83.9 million ETH is concentrated in the top 10 addresses, mainly smart contracts. The Beacon Deposit Contract alone holds 54.58% of total circulating ETH, emphasizing the proof-of-stake model.
Major institutions, including BlackRock and Fidelity, have started amassing significant amounts of Ether as it transitions into a treasury asset. This shift signifies a fundamental change in Ether’s ownership structure.
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