Within the scope of the study, 10 thousand addresses were examined manually and it was found that 17 percent of Ethereum was kept at only 10 addresses. A total of 16.6 million ETHs are stored at these addresses. The 10 thousand major addresses have about 94 percent of all ETHs. However, most of the money is kept and used in smart contracts. Removing them from the equation shows that the biggest 10 thousand Ethereum addresses actually hold 56.7 percent of the total ETH. In this respect, Cochran emphasizes that the distribution of money in Ethereum is fairer than Bitcoin. In Bitcoin, this rate is 57.44 percent. Grayscale also pointed out that institutional investors received ETH On the other hand, the Ethereum fund of Grayscale, one of the biggest investment companies in the crypto money field, has gained an unprecedented interest recently. The total amount of money entered into the fund, which received an investment of $ 110 million in the first quarter of 2020, was $ 96 million. The asset management company currently holds 1 percent of the total ETH supply. Institutional investors’ interest in Ether is most likely due to the upcoming Ethereum 2.0.
