Where's all the ETH deposited?
Simple question but difficult to answer.
Total ETH supply: 120M
- Staked supply: 34.75M (28.34%)
- In CEXs: 23.6M (19.6%)
- All ETFs: 2.97M (2.42%)
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Here's the tricky part:
ETH in L2s
ETH in DeFi isn't 14M, as DCinvestor claims. He included all TVL in ETH.
Actually, ETH in L2 TVL is just 27% in Arbitrum, 33% in Base, 25% in Optimism, 75% in Blast, 32% in zkSync, and 79% in Linea.
About 4.9M ETH is in L2s, 4% of the total supply.
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Next DeFi:
- Eigenlayer holds 3.1M naked ETH (2.5% of total supply)
- 2.9M in wrapped ETH (2.4%)
Things get complicated here as most ETH in DeFi is in LSTs/LRTs.
E.g., in Aave v3, $15.6B of $16.4B is in LST/LRT, only $1B in wETH.
That's 0.24% of total ETH supply.
To this point, we account for ~60% of the ETH.
Where's the rest?
- Ethereum Foundation: 0.26%
- Holding in personal wallets/multisigs
- Other DeFi protocols
- Bridges
...
I was looking for a unified analytics dashboard but couldn't find.
Does it exist? Please let me know!
