StablecoinX reports holding about 3.03 billion ENA, roughly 20% of total supply
AI Market Summary
StablecoinX disclosed in a June 25, 2026 SEC Form 8-K that it holds ~3.03B ENA, about 39.4% of circulating supply and ~20% of total supply, consistent with CoinGecko’s treasury data. The size and concentration are material for ENA market structure and Ethena governance dynamics, raising near-term sensitivity to any clarification on the closing, lockups, custody, or future token disposition.
Impact level
● High
Affected assets
ENA/USDT-1.76%
AI Insight · ENA/USDTAI Insight
● Neutral
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StablecoinX Inc. disclosed in an SEC Form 8-K filed on June 25, 2026 that it holds about 3.03 billion ENA tokens following a closing. The company said the stake equals about 39.4% of the roughly 7.69 billion ENA in circulating supply and about 20% of the roughly 15 billion ENA in existence. CoinGecko data put the position at roughly $252.2 million and list it as 20.193% of ENA’s total supply. The filing did not describe the nature of the closing or identify the counterparty, drawing market attention to the stablecoin firm’s ENA holdings.
