Ethereum (ETH) Price: Major Institutions Aggressively Accumulate ETH During Downturn

Key Highlights

Table of Contents

SharpLink Gaming disclosed $394.3 million in Q2 net losses, primarily from unrealized losses on Ethereum holdings and impairments on staking derivatives
BitMine executed a 3 million share buyback while purchasing 7,931 ETH, expanding total reserves to 5.805 million ETH
Total Ethereum staked reached an unprecedented 41.7 million ETH, representing approximately one-third of the entire circulating supply
Spot Ethereum ETFs in the United States saw $244.9 million in net inflows during the past week, marking the strongest performance since April
ETH currently trades around $1,870, positioned between critical support at the 50-day EMA ($1,862) and overhead resistance at the 100-day EMA ($1,924)

SharpLink Gaming (SBET) disclosed substantial Q2 losses totaling $394.3 million, a significant increase compared to $103.4 million in losses during the corresponding quarter last year. The financial hit stemmed largely from $321 million in unrealized depreciation on Ethereum positions and an additional $76.1 million from impairment charges on liquid staking derivatives.

However, the company’s operational performance showed improvement, with total revenue climbing to $11.5 million from merely $0.7 million year-over-year. SharpLink successfully secured $75 million through equity financing, allocating a portion to acquire 10,000 ETH, closing Q2 with 886,881 ETH in treasury. Current holdings have expanded to 888,938 ETH.

BitMine Immersion (BMNR) made waves with different corporate actions last week. The firm executed a 3 million share repurchase, elevating cumulative buybacks since July to 19.1 million shares as part of its expansive $4 billion authorization program.

It seems that Tom Lee(@fundstrat)'s #Bitmine bought another 13,000 $ETH($24.36M) from #BitGo 2 hours ago.https://t.co/XgmM2st6qL pic.twitter.com/EjYsal4PdG
— Lookonchain (@lookonchain) August 11, 2026

Simultaneously, BitMine acquired 7,931 ETH, expanding aggregate holdings to 5.805 million ETH. The majority—5.067 million ETH—remains deployed through its Made in America Validator Network (MAVAN), producing annualized staking income of approximately $257 million.

Institutional Staking Propels Ethereum to Unprecedented Levels

The total amount of staked Ethereum reached an all-time peak of 41.7 million ETH, based on CryptoQuant data highlighted by Bitfinex on August 10. This milestone represents approximately 34.5% of ETH’s circulating supply, currently estimated at 120.7 million tokens.

Staked $ETH has climbed to a record 41.7 million, a third of all ETH in existence, while price fell from $3,400 in January to $1,900.
As the amount staked grows, the rewards do not run out, which is why the pile keeps growing. pic.twitter.com/m5AU9GQ4eB
— Bitfinex (@bitfinex) August 10, 2026

Staked volumes stood near 36 million ETH just seven months earlier in January. The approximately 5.5 million ETH surge occurred despite Ethereum’s price declining from roughly $3,400 to the current $1,900 level during the identical timeframe.

Corporate treasury strategies have been instrumental in this growth. BitMine maintained approximately 4.9 million ETH in staking positions as of mid-July. Similarly, SharpLink has allocated the majority of its treasury reserves to staking operations, continuing to generate yields regardless of market price fluctuations.

These unprecedented staking metrics have reignited discussions surrounding EIP-8363, a governance proposal suggesting the burning of escalating portions of staking rewards as participation ratios climb. SharpLink CEO Joseph Chalom has publicly contested this initiative, maintaining that native yield generation strengthens Ethereum’s attractiveness to institutional participants.

ETH Price Action at Critical Juncture

Market analyst Daan Crypto Trades observed that Ethereum has maintained its present trading range but requires a decisive break above $1,950 to unlock upside potential toward $2,100 and higher targets. He highlighted that price compression has intensified, suggesting a breakout in either direction could catalyze significant momentum. The analyst identified $1,850 as the critical support threshold that would invalidate the bullish scenario.

$ETH Has been doing its thing and holding on to this current price range.
But the level to break and hold is $1950. That would open the door to a move above $2.1K+
Especially seeing how compressed price has been here, a breakout (to either side) should come with a decent… https://t.co/DK3alDueWT pic.twitter.com/25k8QyK8aH
— Daan Crypto Trades (@DaanCrypto) August 10, 2026

From a technical perspective, ETH is consolidating near $1,870, sandwiched between the 20- and 50-day exponential moving averages at $1,884 and $1,862 respectively. The 100-day EMA positioned at $1,924 continues functioning as significant overhead resistance.

United States-based spot Ethereum ETFs attracted $244.9 million in net inflows throughout the previous week, representing their most robust performance since mid-April.