8% of Ethereum Supply Now Sitting in ETFs or Company Reserves
8% of Ethereum's total supply is now held by Ethereum ETFs and corporate reserves, a significant increase from 3% at the beginning of April. This uptick, attributed to strategic corporate investments, has contributed to a rise in ETH's price from $1,800 to approximately $4,300. Major firms like Bitmine Immersion Tech and SharpLink Gaming are among those adding ETH to their treasuries. Ethereum ETFs have also increased from 3.5 million ETH to 6.15 million ETH, making up over 5% of the circulating supply. The total assets under management (AUM) for Ethereum funds have surged from $14.6 billion in June to $31.9 billion, further highlighting the growing institutional interest. Analysts suggest this trend reflects a shift by companies that missed the 'Bitcoin treasury moment' to capitalize on Ethereum’s potential. However, there are concerns that this surge in interest may resemble the 2017-18 ICO boom, with some experts cautioning that the enthusiasm may not be sustainable over the long term. Regardless, current market conditions indicate a conducive environment for continued investment in Ethereum ETFs and corporate reserves.
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