The Hidden Race Between Institutions on Ethereum: "The Seven Brothers" Accumulate Over $8 Billion in Assets, and the ETH Environment Witnesses a "Silent Revolution"

Emergence of a Mysterious Entity, and Its Holdings Shake Up the Market
While the crypto market remains divided over Bitcoin ETF fund flows, an entity called "The Seven Brothers" is quietly reshaping Ethereum's power landscape. According to the latest on-chain analytics, this entity currently holds 25,2000 ETH, worth over $8 billion, rapidly climbing the list of largest holders, surpassing even the public holdings of the Ethereum Foundation itself.
The shock here is: while retail investors still wonder "Has ETH been forgotten?", the major whales have already answered through their actions. The "Seven Brothers" began accumulating in October 2024, with total purchases reaching 48,588.72 ETH, investing nearly $169 million, with an average cost per ETH of $3,479. This means that part of the recent holdings still suffers a loss of about $322 per ETH compared to the current price.
But this is the core of the story — continuing accumulation despite temporary losses, not short-term speculation.
Changing the Logic of Institutional Management: From "Speculation" to "Stockpiling"
The pattern of "The Seven Brothers" reveals a profound shift: institutional investor strategies toward ETH have moved from "wave-like movements" to "strategic reserves." This shift aligns with several recent institutional moves:
- Ethereum Trust: This week, Bitmine, led by renowned Wall Street analyst Tom Lee, announced that its ETH holdings exceeded 4.1 million, representing over 3% of the total supply, accelerating its pledge plan. This US-listed company considers itself a "long-term Ethereum guardian."
- Strategy's Commitment to Bitcoin: Although Strategy increased its holdings by 1,229 BTC worth $109 million, the logic of accumulating core assets is similar to "The Seven Brothers" — exploiting market correction periods, and regardless of short-term gains or losses, building a strategic reserve.
- Major Banks Expanding in Korea: Reports indicate Mirae Asset plans to acquire 92% of Korbit exchange shares for $97 million, confirming that traditional financial institutions are moving from "monitoring" to "deep participation."
Although these moves seem independent, they ultimately paint one picture: the crypto market in 2025 is shifting from reliance on retail investors to dominance by institutions, from trading to allocation thinking.
Surpassing the Ethereum Foundation: A Symbolic Turning Point
The holdings of "The Seven Brothers" surpassing those of the Ethereum Foundation carry deeper implications.
The Ethereum Foundation, as the protocol developer and maintainer, primarily uses ETH to fund operational environments — a "functional" stock. In contrast, institutional holdings like "The Seven Brothers" represent "capital reserves" — buying ETH not to pay gas fees or fund developers, but because they believe in its storage function and potential for future appreciation.
This surpassing indicates that ETH's value is now being validated by external capital, not just through the internal narrative of the ecosystem. When external capital begins supporting ETH with its own funds, its properties as an asset transcend its original classification as a "utility token."
The Strategy Behind Temporary Losses: Time Creates Space
It’s important to note that the cost basis for "The Seven Brothers" holdings is higher than the current price, which may seem counterintuitive in traditional investment logic. But institutional calculations differ:
- First, they focus on reassessing value over 2-3 years, not short-term profits. Layer2 environments, enterprise applications, and potential monetary policy adjustments are all long-term catalysts.
- Second, the cost of capital for institutions is entirely different from retail investors. For institutions managing billions or hundreds of billions of dollars, ETH at $3,479 is a "fair distribution," not a "buy at the top." Their goal is overall portfolio return, not profit from each trade.
- Third, staking yields provide a safety cushion. Currently, the annual yield on staked ETH ranges between 3-4%, reducing costs and generating steady cash flow for long-term investors.
Market Impact: From "Liquidity Trap" to "Value Deposition"
The continued entry of institutions like "The Seven Brothers" is changing the ETH market structure. On one hand, large amounts of ETH are locked in long-term addresses, reducing circulating supply; on the other hand, accumulation behavior lowers trading volume, making price discovery more reliant on fundamentals rather than emotions.
This shift may appear in the short term as a "liquidity shortage" — Bitcoin ETF funds have experienced four consecutive weeks of net outflows totaling $1.2 billion, with overall trading activity declining. But in the long run, concentrating core assets in strong hands often precedes a major market wave.
Historically, in 2019-2020, when Bitcoin stabilized around $3,000, it was also a period of institutional accumulation. Back then, Grayscale continued accumulating, while retail investors exited after bearish market shocks. The outcome was well known afterward.
2026 Outlook: Will It Be the Year of "Institutional Transformation" for Ethereum?
A recent report from Cantor Fitzgerald warned that "2026 could see a crypto winter," but also noted that the market will become more "institutional and organized." This aligns perfectly with the logic of "The Seven Brothers" — winter is not a disaster, but a season of discounts for high-quality assets.
Currently, Ethereum’s ecosystem is undergoing key transformations:
• Technically: Layer2 solutions are rapidly evolving, and reducing mainnet congestion paves the way for widespread applications.
• Regulatory: The SEC’s classifications of ETH are becoming clearer, reducing regulatory uncertainty.
• Application-wise: In the wave of real-world asset tokens (RWA), ETH’s role as a settlement asset is being reinforced.
• Capital-wise: From "The Seven Brothers" to Bitmine, institutional holdings have reached their highest levels ever.
These factors ultimately form the "buying logic" for institutions. They are not betting on next month’s price but on Ethereum’s role as a fundamental component of future financial infrastructure.
Lessons for Investors: Moving with the Giants
For the average investor, the holdings data of "The Seven Brothers" offers important insights:
First, temporary losses for institutions do not mean a trap for retail investors. On the contrary, when institutions continue accumulating despite losses, it often indicates their valuation of the asset far exceeds the current price.
Second, the "institutional" process of Ethereum is irreversible. As more traditional financial institutions enter the crypto asset management space, ETH is shifting from a "risky asset" to an "alternative investment component."
Third, time is the most critical factor. Institutions use their budgets to set a minimum price, but allowing for upward movement takes time. For investors unable to tolerate a 2-3 year lock-up, gradual investment may be the best option.
Conclusion: Silent Consensus, a Voice That Shakes the Ears
"The Seven Brothers" did not issue a grand vision statement nor organize large conferences; instead, they write their judgment on the chain through their actions. This silence is more powerful than any market noise.
When Ethereum Foundation holdings are surpassed, we see not just a change in ranking but the maturation of crypto assets from "ideal experiment" to "real allocation." Institutions are voting with their real money, and their temporary losses may serve as a safe cushion for the upcoming investor base.
What will happen next? Will the whales adjust their strategies due to short-term volatility? Will ETH establish itself as an "institutional asset" by 2026?
The answer is not in candlestick charts but in the choices of each participant.
What do you think about the behavior of "The Seven Brothers" in holdings? How do you foresee institutional entry leading ETH? Share your thoughts in the comments!
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