Trend Research Boosts ETH Holdings to 580,000 Amid Plans for $1 Billion More

Trend Research is preparing another $1 billion to buy ETH | Source: Jack Yi

This non-listed entity‘s rapid buildup contrasts with public treasuries but amplifies overall concentration. Lacie Zhang, research analyst at Bitget Wallet, explains that firms acquire ETH during downturns to convert idle assets into yield-generating infrastructure. She notes that unlike individual investors’ opportunistic buys, corporate efforts often target network influence through staking and validation participation. Data from CoinGecko shows Trend Research now exceeds most tracked public Ethereum treasuries, signaling a shift toward diversified institutional involvement.

The broader landscape reveals mixed dynamics, with accumulation by aggressive players like BitMine offsetting sales from others. BitMine‘s milestone of over 4 million ETH—equating to more than 3.3% of Ethereum’s circulating supply—solidifies its role as the largest publicly listed holder. The company plans to stake holdings via its Made in America Validator Network, aiming for yields that support long-term growth. Zhang highlights this staking focus as crucial, enabling BitMine to pursue 5% of ETH supply for dominance in proof-of-stake consensus, thereby reducing effective costs independent of price volatility.

On the selling side, ETHZilla reduced its position by 24,291 ETH, approximately $74.5 million, to address senior secured convertible notes, leaving it with about 69,800 ETH. Similarly, FG Nexus, a U.S.-listed firm in specialty finance and insurance, has sold ETH to fund share repurchases amid discounted stock prices relative to crypto assets. Zhang describes these actions as tactical balance sheet adjustments, where liquidations facilitate debt redemption or buybacks. For buyers, she views such sales as opportunities to consolidate control over Ethereums infrastructure.

Overall, Ethereum treasuries are becoming more concentrated, with private firms like Trend Research challenging public giants. This trend persists despite fragile market sentiment, as entities leverage ETH for strategic advantages in validation and yield. Industry observers, including those from Bitget Wallet, emphasize that these moves represent bets on Ethereums foundational role in decentralized finance and blockchain applications.