Six exchanges control 6.66M ETH across Ethereum’s top 12 wallets
On-chain data shows six exchanges hold 6,660,544 ETH across Ethereum’s 12 largest addresses; Beacon Deposit and WETH contracts hold the largest single balances.
On-chain records show six exchanges together control 6,660,544 ether held across Ethereum’s 12 largest addresses. The list includes protocol-level contracts, exchange custody wallets and two layer-2 bridges.
The Beacon Deposit Contract holds 88,289,814 ETH, equal to about 73.16% of the combined holdings of the top 12 addresses. The Wrapped Ether contract holds 2,443,063 ETH, roughly 2.02% of the top-12 total. Both contracts serve protocol or token-wrapping functions rather than discretionary custody.
Binance controls the largest exchange balance across three tagged addresses, with a combined 3,190,602 ETH. The address labeled “Binance 7” contains 1,996,008 ETH and about 2,481 transactions, consistent with large, infrequent transfers. A second address, “Binance Hot Wallet 20,” holds 739,595 ETH and logged roughly 20,981 transactions. A third address, “Binance‑Peg Tokens,” holds 454,999 ETH used as collateral for wrapped tokens issued on other chains.
Robinhood operates at least two addresses holding a combined 1,588,545 ETH: an operational wallet with 1,220,494 ETH and a cold storage address with 368,050 ETH. Upbit appears with 1,046,015 ETH in a wallet tagged “Upbit 41,” which recorded 54,671 transactions. Bitfinex holds 450,118 ETH in a tagged address, and Gemini keeps 385,262 ETH in a cold wallet that recorded 945 transactions.
Two layer-2 bridges are among the largest addresses. The Arbitrum Bridge backs 819,716 ETH circulating on Arbitrum, while Base Portal holds 807,076 ETH and recorded about 1,140,867 transactions. Combined, the Arbitrum and Base bridges lock roughly 1.63 million ETH.
Excluding the Beacon Deposit and Wrapped Ether contracts, the remaining ten addresses hold 8,287,337.60 ETH. Exchange‑controlled wallets account for 6,660,544 ETH of that balance, equal to about 5.52% of a 120,682,850 ETH reference supply used in the analysis. At an example price of $1,860 per ETH, Binance’s aggregate holdings are valued at roughly $5.9 billion and Robinhood’s combined addresses at about $2.9 billion.
The Beacon Deposit Contract contains small balances of nonnative tokens, including about 7.112 trillion PIKA tokens valued at roughly $109,690 and approximately $8,500 in USDT, along with numerous low-value ERC-20 tokens. These token residuums do not change the contract’s role as staking deposit infrastructure.
Tagged addresses show custody split across multiple wallets for individual exchanges, with separate hot and cold addresses present on the list. The bridge balances reflect funds moved to layer-2 networks for lower fees and faster settlement.
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