The institutional adoption of Ether (ETH), the native cryptocurrency of Ethereum, does not stop and, for the first time, 1.2 million units of the second most valuable asset in the market are in the hands of institutions.
This new financial milestone It was promoted by the most recent purchase of Sharplink Gaminga company that quotes at the Nasdaq specialized in sports bets. On June 24, the firm bought ETH for 30.6 million dollars and increased its holdings to 188,478 ETH.
In this way, Sharplink Gaming became the public contribution company with more ETH in its treasury.
It is worth clarifying that the largest institutional investor is the Ethereum Foundation, which has 256,450 ETH in its hands. Among the main holders of ETH are public, private companies, decentralized autonomous organizations (DAO), foundations and even some governmental entities, such as the United States government.
The fact that more and more companies are analyzing the possibility of incorporating ETH to form a strategic reserve, speaks to the clear an institutional fever around this asset.
As cryptootics, Sharplink Gaming, Bit Digital and BTCS Inc. have reported, they are issuing corporate debt to finance their ETH purchases and thus increase their holdings. This is the same mechanism that Strategy is implementing, the firm directed by Michael Saylor, to obtain funds quickly, without depending on its operational income.
The appeal to these companies that choose to invest in ETH instead of Bitcoin (BTC) It lies in the possibility of obtaining additional income through staking.
