Ethereum Reserve Surges By Over 5 Million ETH in 5 Months, Reaching $21 Billion Value

The Strategic ETH Reserve expanded by over 5.25 million ETH between April and late September.

Nearly 3.9 million ETH were added in just 2.5 months, matching four years of Ethereum network issuance.

Accumulation accelerated sharply after mid-July, with consistent weekly inflows continuing through September.

Between April and September, the Strategic ETH Reserve (SER), including ETF-linked holdings, recorded substantial Ethereum accumulation. From mid-April through late September, the reserve grew from below one million ETH to over 5.25 million ETH. The rise in holdings occurred in steady phases, with a significant acceleration after mid-July. As of September 27, the total ETH held reached 5,255,246, valued at $21.1 billion.

April to Mid-July: Steady Accumulation Below 2 Million ETH

Historical market data reveals that, from mid-April to late May, the reserve held the ETH in reserves of less than one million. During this early period, growth was steady without significant change. Between the end of May and mid-June, ETH holdings rose step-by-step, but still remained below the 1.5 million mark. By the beginning of July, the reserve crossed the 1.5 million ETH mark for the first time.

Source: X

Starting mid-July, the accumulation rate increased noticeably. ETH holdings crossed 2 million and continued to grow through late July. By early August, the reserve approached 3 million ETH. Weekly data throughout August showed a consistent increase. Mid-August holdings exceeded 3.5 million ETH, marking a sharp rise compared to early summer levels.

By late August, the reserve expanded beyond 4 million ETH. Entering September, inflows remained consistent, contributing to further gains. On September 7, total holdings reached near 4.5 million ETH. The pace of inflow increased through mid-September.

End of September: Over 5 Million ETH Held

By September 20, ETH reserves crossed 5 million. The latest recorded figure on September 27 showed holdings at 5,255,246 ETH. At that time, the reserve’s total value stood at $21,126,090,710. Over the past 2.5 months, the reserve added approximately 3.9 million ETH. This figure closely matches Ethereum’s total net issuance over the last four years, estimated at 3.89 million ETH.

The charted data shows steady ETH accumulation with sharper growth beginning in July. The upward trajectory remained consistent into September, with no significant drop during the period. From under one million in April to over five million in late September, the reserve demonstrated consistent and rapid acquisition.