Investment advisors dwarf other institutional segments, with hedge fund managers ranking second at $687 million in exposure. Their holdings are equivalent to 274,757 ETH, representing a 104% increase from the first quarter.
Jane Street Group follows at $190.4 million, while Millennium Management commands $186.9 million in ETF shares.
The concentration among top-tier Wall Street firms demonstrates institutional acceptance of Ethereum as a legitimate asset class within traditional portfolios.
Brokerage firms generated the third-largest exposure category at $253 million, adding 13,525 ETH (15.4%) positions during the quarter.
Private equity and holding companies contributed $62.2 million and $60.6 million, respectively, while pension funds and banks reduced their hands on Ethereum exposure.
Total institutional exposure across all categories tracked by Bloomberg Intelligence reached $2.44 billion by the end of the second quarter, representing 975,650 ETH in combined holdings.
The third quarter could also potentially show substantial increases in institutional participation based on the numbers so far.
