Bitmine and Sharplink dispute the first place, with frequent ETH purchases.
This trend withdraws eth from the market and promotes its price increase.
The institutional fever by Ether (ETH), the native cryptocurrency of Ethereum, is consolidated as one of the main trends in the current market.
A sign that confirms this financial phenomenon is that 2.73 million ETH, the equivalent of 10,000 million dollars, are in corporate treasury.
The main ETH holder is Bitmine Immersion, a firm that abandoned Bitcoin mining to focus on the accumulation of Ethereum’s currency. Currently, he has 625,000 ETH in his possession, valued at 2,420 million dollars.
In second place appears Sharplink (SBET), a company that quotes at Nasdaq, which accumulates 438,200 ETH, valued at 1,690 million dollars.
The following graph, provided by the Strategic Eth Reserve portal, shows the 15 main corporate and institutional treasures of ETH. There are public contribution companies, foundations, DAO and even the United States government:
In this regard, Geoffrey Kendrick, Global Digital Asset Research Director of Standard Chartered, highlighted that Companies have accumulated 1% of the entire ETH in circulation since June.
In that sense, he remarked that he almost equals the 2 million ETH that were acquired by the managers of the funds quoted in the stock market (ETF) during the same period. «ETH treasury companies are barely starting; They will probably multiply their value from now on, ”Kendrick said.
The specialist also stressed that “if the flows continue, ETH could exceed the key level of 4,000 dollars in 2025”.
As cryptootics reported, companies are interested in accumulating ETH because they have the possibility of generating extra income of around 3% per year (paid in ETH) through the standking.
For example, Sbet reported On July 29 that the rewards for this mechanism have reached 722 ETH, a total of 2.78 million dollars at today’s prices.
