Ethereum, the second-largest cryptocurrency by market capitalization, powers a vast decentralized ecosystem of applications, smart contracts, and digital assets. As its influence grows, so does interest in who holds the most ETH. From institutional giants and blockchain infrastructure to individual pioneers and even celebrities, Ethereum’s ownership landscape is both diverse and revealing.
This article explores the top Ethereum holders in 2025, leveraging on-chain data insights to uncover who controls the largest ETH balances—ranging from exchanges and staking contracts to governments and high-profile individuals.
The Largest Ethereum Holders: An Overview
Over 30% of all ETH in circulation is currently locked in the ETH2 Beacon Deposit Contract, making it the single largest holder. This contract secures the network through staking, where users deposit ETH to become validators. Beyond this, exchanges dominate the leaderboard, holding vast reserves to support trading, liquidity, and staking services.
Key findings:
- Rain Lohmus, an early presale investor, owns 250,000 ETH—the most by any individual—but cannot access it due to lost private keys.
- Vitalik Buterin, Ethereum’s co-founder, holds 245,800 ETH, making him the largest active individual holder.
- Exchanges like Coinbase and Binance collectively control millions of ETH on behalf of users.
- The U.S. government holds over 56,000 ETH, largely seized from criminal activities like the Bitfinex hack.
Let’s break down these holdings by category.
Exchanges: The Institutional Powerhouses
Cryptocurrency exchanges are among the top custodians of Ethereum, managing assets for millions of users worldwide. Their large ETH holdings support trading pairs, withdrawals, deposits, and staking offerings.
Top Exchange Holders
Coinbase leads with over 6.9 million ETH—worth more than $18 billion—across its cold storage and staking systems. This includes ETH used for cbETH, its wrapped staked ETH token.
Binance follows closely with 4.5 million ETH, valued at nearly $12 billion. Like Coinbase, Binance aggregates ETH from user balances and its own staking infrastructure, including wBETH (wrapped Beacon ETH).
Kraken, in third place, holds approximately 1.7 million ETH. While Kraken previously offered staking services, regulatory pressure led to a temporary shutdown of these features, slightly reducing its overall ETH footprint.
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These exchange holdings reflect not just corporate reserves but also the aggregated deposits of millions of retail investors—highlighting the centralized role exchanges play in the decentralized world of Ethereum.
Public Goods: Infrastructure That Powers Ethereum
Certain Ethereum addresses serve public functions critical to the network’s operation. These “public goods” are not owned by individuals but exist to support core protocols.
Key Public Goods Holders
The ETH2 Beacon Deposit Contract holds over 38 million ETH, representing more than 30% of the total supply. This massive sum comes from users who have staked their ETH to help secure the proof-of-stake blockchain.
Another major holder is the Wrapped Ether (WETH) contract, which controls over 3 million ETH. WETH is an ERC-20 version of ETH that enables compatibility across decentralized applications (dApps), DeFi protocols, and cross-chain platforms. Every time someone wraps native ETH into WETH, that ETH is held in this smart contract.
These addresses don’t represent wealth accumulation—they’re foundational to Ethereum’s functionality.
Financial Institutions: Bridging Crypto and Traditional Finance
Traditional finance players are increasingly involved in Ethereum through investment vehicles and regulated services.
Grayscale Ethereum Trust (ETHE)
Grayscale holds nearly 3 million ETH, primarily through its Ethereum Trust (ETHE). This product allows institutional and accredited investors to gain exposure to ETH without directly managing private keys. Grayscale purchases and securely stores ETH on behalf of shareholders.
Paxos: Regulation and Utility
Paxos, a regulated financial institution, holds around 404,000 ETH. It supports ETH trading and staking while also issuing USDP, a regulated stablecoin built on Ethereum. Its ETH holdings are used for operational gas fees and client services.
These institutions act as bridges between legacy finance and the crypto economy, bringing compliance and scalability.
Other Blockchains: Native Bridges Reveal Adoption Trends
As Ethereum scales via Layer 2 solutions, native bridges have become key indicators of user migration and adoption.
Arbitrum and Optimism: Leading the Rollup Race
- Arbitrum’s native bridge holds about 1.5 million ETH, showing strong user adoption of this optimistic rollup.
- Optimism’s Gateway bridge has accumulated 367,000 ETH, reflecting growing use of its scalable environment.
These figures represent ETH "bridged" from Layer 1 to Layer 2—users lock their ETH on Ethereum and receive a wrapped version usable on the rollup. The amount locked serves as a proxy for real-world usage.
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Even Polkadot, though not an Ethereum sidechain, holds 306,000 ETH in a multi-sig wallet—possibly for interoperability or treasury diversification purposes.
Governments: Seized Crypto Assets
On-chain analysis has revealed government-controlled wallets holding significant amounts of crypto—mostly seized from illegal activities.
The U.S. government owns over 56,000 ETH, second only to Bitcoin in its seized digital asset portfolio. Most of this was recovered from the Bitfinex hacker, whose 2016 breach resulted in massive losses before law enforcement tracked and confiscated the funds years later.
While not among the top 20 holders overall, this demonstrates how state actors now play a role in crypto ownership—albeit involuntarily acquired.
Stolen Funds: Hackers Among the Top Holders
Some of the largest ETH balances belong to malicious actors who exploited vulnerabilities in exchanges or protocols.
- The Gatecoin Hacker holds 156,200 ETH, stolen during a 2016 security breach.
- The FTX Hacker controls 95,700 ETH, obtained via a SIM-swap attack in 2022.
- The BNB Bridge Exploiter holds 1,500 ETH and 39,000 WSTETH after a $550 million attack in 2023.
On-chain tracking tools like Arkham Visualizer show how these hackers distribute funds across mixers (e.g., Tornado Cash) and exchanges in attempts to launder stolen assets.
Founders and Early Investors: The Pioneers
The earliest participants in Ethereum’s journey remain some of its wealthiest individuals.
- Rain Lohmus bought 250,000 ETH for just $75,000 during the 2014 presale—an investment now worth over $660 million. However, he lost access to the wallet.
- Vitalik Buterin actively manages his 245,800 ETH, using them for development funding, philanthropy, and ecosystem support.
- Jeffrey Wilcke, another co-founder, holds approximately 136,000 ETH.
Their holdings underscore the long-term value creation possible through early belief in decentralized technology.
Celebrities: Crypto Goes Mainstream
Several high-profile figures have entered the Ethereum space—often through NFTs and promotional deals.
- Donald Trump holds 703 ETH (including WETH), largely earned from his NFT collection sales.
- Steve Aoki: 158 ETH
- Justin Bieber: 146 ETH
- Mark Cuban: 59 ETH
- Neymar Jr: 45 ETH
These holdings reflect the cultural shift toward blockchain adoption during the 2021 bull run, where celebrities leveraged their influence to engage with Web3 communities.
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Frequently Asked Questions (FAQ)
Who owns the most Ethereum?
The ETH2 Beacon Deposit Contract owns the most Ethereum—over 38 million ETH—used for network validation through staking. Among individuals, Rain Lohmus holds the largest amount (250K ETH), though he cannot access it.
Can Vitalik Buterin control Ethereum?
No. While Vitalik is a key figure and holds significant ETH (245.8K), Ethereum is decentralized. No single person controls protocol changes or network operations.
Why do exchanges hold so much ETH?
Exchanges hold ETH to support user deposits, withdrawals, trading liquidity, and staking services. These balances represent customer assets held in custody—not company profits.
Is staked ETH safe?
Staked ETH is secured by cryptographic protocols and distributed validator networks. However, risks include slashing penalties for misbehavior and smart contract vulnerabilities—though rare.
How much of the total ETH supply is staked?
Over 30% of all ETH is currently staked via the Beacon Deposit Contract. This number fluctuates based on market conditions and staking rewards.
Are celebrity crypto holdings significant?
While celebrities like Trump and Bieber hold notable amounts (hundreds of ETH), their holdings are small compared to institutional or protocol-level reserves. Their impact is more cultural than economic.
Final Thoughts
Ethereum ownership spans a spectrum—from foundational smart contracts securing the network to exchanges safeguarding user funds, governments recovering illicit assets, and pioneers who believed in its potential from day one.
Understanding who owns the most Ethereum reveals more than wealth distribution—it shows how decentralization evolves through technology, regulation, culture, and innovation.
As Ethereum continues scaling through rollups and enhancing usability across DeFi, NFTs, and identity systems, tracking ownership trends will remain essential for investors, developers, and enthusiasts alike.
Keywords: Ethereum ownership, who owns most ETH, Ethereum staking, top ETH holders, Vitalik Buterin net worth, Rain Lohmus lost keys, Layer 2 adoption