Ethereum Micro Wallets Hit 100K: Santiment

Ethereum's micro addresses holding less than 0.1 ETH have surpassed the 100,000 wallet mark for the first time, according to data from Santiment. 

This milestone highlights the growing adoption and diversification of Ethereum holdings, even as larger wallet categories, including those holding between 0.1-10 ETH and over 10,000 ETH, also see an uptick in numbers. 

Ownership distribution

Whales, or large holders of Ethereum, currently account for a 32.94% concentration, holding about 40.83 million ETH, according to data provided by IntoTheBlock.  

Smaller investors boast combined holdings that account for 12.48% of the market, equivalent to 15.47 million ETH. 

The recent trends in Ethereum's address holdings indicate a growing interest from small-scale investors (as evidenced by the increase in the smallest wallet categories). 

In contrast, larger wallet categories are experiencing a decrease, suggesting a strategic redistribution or liquidity-seeking behavior

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The BlackRock ETF hype

Adding to the excitement in the Ethereum market is the news that asset management behemoth BlackRock plans to launch an Ethereum exchange-traded fund. 

This move is widely speculated as a precursor to filing for an Ethereum-based exchange-traded fund (ETF). Following BlackRock's registration of the iShares Ethereum Trust, the price of Ethereum soared above the $2,000 level, marking its highest level since April.

 This development echoes a similar pattern observed earlier in the year when BlackRock registered a Bitcoin trust, followed by a proposal for a spot Bitcoin ETF.