Who really holds the most Ethereum in 2025? Not always people. The largest personal wallet is lost to forgotten keys, while the network itself, through staking contracts, commands over half the ETH in existence.
Summary
- The largest Ethereum holder in 2025 is the ETH2 Beacon Deposit Contract, securing over half of the supply.
- Exchanges like Coinbase and Binance manage billions in ETH on behalf of users.
- Lost keys, hacks, and government seizures add unexpected names to Ethereum’s rich list.
According to Arkham’s Ether token page, the landscape of Ethereum (ETH) ownership in 2025 is concentrated not in the hands of a few early adopters, but in the mechanics of the network itself.
While staking contracts dominate the rich list, exchanges aggregate billions on behalf of users, and institutions increasingly treat ETH as a treasury asset, signaling Ethereum’s maturation from speculative asset to a productive, utility-driven financial instrument.
Inside Ethereum’s rich list
The single largest holder of Ether today is not a person but the ETH2 Beacon Deposit Contract, which secures the network by locking validator stakes. It currently holds more than 66.8 million ETH, a sum worth roughly $287 billion and representing more than half of all coins in existence.
While the staking contract holds the most value, exchanges form the indispensable liquidity layer of the ecosystem. They constitute a dominant 55% of the top 20 addresses. Coinbase leads this pack with a colossal $18 billion in ETH holdings across its custody and staking services. Binance follows as a close second with nearly $12 billion worth, with Kraken holding a further $1.7 billion.
Beyond exchanges, traditional finance has firmly planted its flag. Asset manager BlackRock now sits atop the heap of financial institutions, holding over 3.2 million ETH to back its spot Ethereum ETF. This marks a pivotal moment of institutional validation.
Meanwhile, a new class of corporate treasury has emerged, mirroring the Bitcoin strategy of Michael Saylor’s Strategy but with a yield-bearing twist. Companies like BitMine are publicly aiming to accumulate 5% of the entire ETH supply, with their current holdings valued at over $7.5 billion.
Individual ETH billionaires
The title of largest individual holder belongs to Rain Lohmus, whose 250,000 ETH presale stash remains permanently locked and inaccessible, a $1 billion monument to the unforgiving nature of self-custody. This places Ethereum co-founder Vitalik Buterin, with 240,000 ETH, as the largest active individual holder.
Beyond the founders, the list includes early ICO investor James Fickel and notable celebrities. Justin Bieber leads the celebrity cohort with 146.5 ETH, largely from NFT sales, followed by streamer FaZe Banks and others like Post Malone and Jimmy Fallon, whose holdings are more symbolic of the 2021 NFT craze than serious accumulation.
The Ethereum rich list also has a darker chapter, written in stolen funds. The Gatecoin hacker remains the largest holder of illicit ETH, with 156,200 ETH siphoned from a 2016 exploit. The individual behind the FTX hack holds 95,700 ETH, a remnant of the $400 million SIM-swap attack that followed the exchange’s collapse.
In a unique twist, the U.S. government has also become an accidental whale. Through seizures from criminals like the Bitfinex hacker, it now custodies 60,000 ETH, making it a significant, if involuntary, participant in the ecosystem.
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