Ethereum treasury companies have acquired 1% of all ETH in circulation in just two months, with holdings worth nearly $9 billion approaching 2% of the total supply. Standard Chartered's Geoff Kendrick predicts that ETH treasury holdings could grow tenfold to eventually own 10% of all ETH, potentially pushing prices above $4,000. The current pace at which treasury companies are growing is double that of Bitcoin treasury companies. Notable treasuries include Peter Thiel-backed BitMine and SharpLink, capturing substantial investments as institutional interest grows in staking rewards and DeFi utility despite potential regulatory risks. Analysts note that while treasuries gain significant yields by holding ETH, concerns around liquidity and smart contract management remain.

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