Bitmine and SharpLink Lead Ethereum Institutional Holdings

According to BlockBeats, Bitmine (BMNR) ranks first in Ethereum institutional holdings, possessing approximately 3.4 million ETH valued at around $11.32 billion. Over the past 30 days, Bitmine's holdings have increased by 20%, with an average cost price of $4,037 per ETH, resulting in an unrealized loss of approximately $2.4 billion. SharpLink (SBET) holds the second position, with 860,000 ETH valued at approximately $2.86 billion. Its holdings have grown by 2.5% in the last 30 days, with an average cost price of $3,609 per ETH, leading to an unrealized loss of about $170 million. Notably, the current mNAV (net asset value multiple) for Bitmine and SharpLink stands at 0.99 and 0.87, respectively. Bitmine's market capitalization is $11.236 billion, while SharpLink's is $2.297 billion, both figures falling below the value of their Ethereum holdings.