#数字资产市场动态 Ethereum's concentration is accelerating. After a major global company added 35,268 ETH last week, its holdings surpassed 4.2 million ETH, accounting for 3.48% of circulating supply—this has gone beyond traditional mining companies and evolved into institutional-level asset management behavior.

The latest data as of January 19 clearly illustrates the point. The company's balance sheet shows: 4.2 million ETH, 193 BTC, $979 million in cash reserves, and total assets of $14.5 billion. This asset allocation looks more like a central bank's balance sheet rather than a traditional crypto company.

Even more interesting is the expansion of staking activities. The staked ETH has exceeded 1.83 million, with a weekly increase of 580,000 ETH. Based on the current yield of 2.81%, the annualized cash flow is close to $374 million, generating a stable daily passive income of over a million dollars. Such a scale of staking operation is no longer just an investment activity but a mechanism that converts tokens into enterprise-level cash flow.

Strategically, the company is simultaneously advancing the construction of a validation node network in the United States, aiming for commercialization by 2026. This combination—large-scale holdings + scaled staking + domestic infrastructure—points in the same direction: Ethereum's liquidity is being comprehensively reshaped by corporate capital and region-specific infrastructure architecture.

Shareholder attitudes are also very clear. All four proposals at the January 15 shareholder meeting were approved, with the issuance proposal receiving 81% support. Management publicly stated that they will not dilute equity below net asset value, and the only strategy is to continuously accumulate and increase the value of ETH. $ETH $BTC this wave of concentration is rewriting the power distribution of the entire ecosystem.