According to Bitwise, a total of 27 firms now collectively hold 4.63 million ETH, valued at approximately $19 billion.

Meanwhile, mining difficulty drops by 2.7%, easing network pressure slightly.

This makes it one of the largest holders within the reserve.

The company argued that the plan lacks transparency and gives unfair advantages to major financial institutions.

Coinbase confirmed it’s working to restore access and assured that all funds are safe.