Ethereum Supply Tightens With 45% of ETH Locked: Sygnum

The Ether supply is tightening as more ETH is removed from active trading, according to a new report from Sygnum.

About 45% of all ETH is now locked or hard to sell, Sygnum said in its Q1 2026 Investment Outlook. ETH held on exchanges fell 14.5% during the quarter, continuing a multi-year decline. Meanwhile, exchange-traded funds (ETFs) now hold around 10% of total ETH, and public companies own more than 6.1 million ETH, equal to roughly 5% of the circulating supply.

The report says this shrinking supply could lead to larger price moves, but only if demand increases. Ethereum prices remain under pressure, with ETH down roughly 40% from its short-lived all-time high after the October 2025 market sell-off. Currently, ETH is trading at $2,736, down 8% on the week.

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