Ethereum ETFs and Corporate Reserves Rise to Nearly 8% of Total Supply, Indicating Growing Institutional Interest
Main Idea
Ethereum ETFs and corporate reserves have grown to 7.98% of ETH's total supply, up from 3% in April, indicating increased institutional interest and contributing to Ethereum's price rise.
Key Points
1. Ethereum ETFs now hold over 6 million ETH, representing more than 5% of the total circulating supply.
2. Corporate reserves, including holdings from firms like Bitmine Immersion Tech and SharpLink Gaming, have significantly boosted Ethereum's value from $1,800 in early April to $4,300.
3. The total value of all Ethereum funds stands at $31.9 billion as of October 2023.
4. Ethereum's growth has outpaced Bitcoin's recently, with Ethereum funds doubling in a month compared to Bitcoin's 12.5% increase since June.
5. Ethereum balances on centralized exchanges have hit their lowest levels since 2016.
Description
Ethereum ETFs and corporate reserves have surged to 7.98% of ETH’s total supply, up from just 3% in April, reflecting growing institutional interest. ETH held by ETFs and corporate reserves
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