Corporate buyers tied to Ethereum treasury strategies are easing off new ETH purchases. Analyst Ted said Ethereum Treasury companies have almost stopped buying ETH because price charts have shown persistent declines over recent months, a sign that institutional conviction has weakened.
That shift lines up with the stock performance of several crypto-linked firms. Ted pointed to BitMine Immersion Technologies, SharpLink Gaming, Dynamix Corporation, and Bit Digital, noting that each had posted strong rallies earlier before moving into gradual downtrends. The pattern suggests that enthusiasm faded after the initial surge and selling pressure started to build.
Stock charts show fading momentum across treasury-linked names
BitMine Immersion Technologies ran hard at first, then settled back near the lower end of its range. SharpLink Gaming followed a longer downward path after reaching higher levels, with each rebound attempt followed by another leg lower. Ted summed up the setup clearly: “The chart shows the overall momentum has faded.”
Dynamix Corporation showed a slightly different structure. Its shares spiked early, likely on sudden speculative interest, and then moved sideways in a tight band. Bit Digital traced a more familiar volatile sequence: a fast move to peak levels, a sustained decline, and a recent flattening in price action.
Holdings remain large even as new buying slows
CoGecko data shows that 29 institutional entities across seven countries currently hold about 6.45 million ETH, valued at roughly $12.7 billion. That equals 5.35% of Ether’s circulating supply. The exposure is still substantial, but the pace of fresh accumulation appears to be cooling.
BitMine Immersion Technologies remains the largest institutional holder with more than 4.47 million ETH, worth about $8.84 billion. Its position represents roughly 3.7% of total circulating Ether. Even with broader caution in the market, the company added 188,000 ETH over the past 30 days.
SharpLink Gaming ranks next with around 864,840 ETH, valued at about $1.7 billion. The Ether Machine holds 496,712 ETH, worth nearly $1 billion. Bit Digital holds 153,000 ETH, Coinbase Global owns 151,000 ETH, and BTCS Inc. holds 70,000 ETH. Current ownership remains concentrated among a small group of large players, while buying activity is no longer as aggressive as it was earlier.