Institutional funds experienced the fourth-highest weekly inflow on record, while Ethereum treasury firms amassed almost 545,000 ETH last month.
The leading Ethereum treasury firms purchased at least $1.6 billion worth of Ether (ETH) at $2,988 in the last month, and institutional purchases increased throughout the past week as Ether rose in value.
According to recent purchase announcements, corporate ether treasury businesses have amassed about 545,000 ETH in the last 30 days.
BitMine Immersion Technologies, led by Tom Lee of Fundstrat, said on Monday that it had 163,142 ETH, which is approximately $480 million at today’s market value.
Lee stated, “ETH treasuries, which can accumulate 5% of the total ETH supply, may benefit from a similar ‘Wall Street put’ as seen in Michael Saylor’s aggressive Bitcoin accumulation strategy.” This suggests that Wall Street will become bullish on ETH, similar to its stance on Bitcoin and the overall strategy.
The Treasury King is Joe Lubin’s SharpLink.
With the acquisition of an additional 10,000 ETH on July 11, 16,370 ETH on July 13, and a further 24,371 ETH for $73.2 million on Monday, Joseph Lubin’s gaming platform, SharpLink, now has over 255,000 Ethereum and is the most extensive corporate Ethereum treasury.
As a “self-appointed representative of the League of Extraordinary ETH Accumulator Gentlemen,” Lubin, the creator of Consensys, has even praised BitMine and other companies for their recent acceleration of accumulation.
Growing Ethereum Treasury List
Blockchain Technology Consensus Solutions (BTCS), which collected $62.4 million to increase its ETH holdings to 29,122 ETH this month, and digital asset platform Bit Digital, which has more than 100,000 ETH, are two more businesses that have lately purchased Ethereum for corporate treasuries.
In the meantime, on July 8, GameSquare revealed its strategy for a $100 million Ethereum treasury.
Inflows of Ether funds totaling nearly $1 billion
As asset manager CoinShares announced on Monday, Ethereum-based digital investment funds saw their fourth-largest weekly inflow on record, totaling $990 million, for the 12th consecutive week.
As institutions pour money into ETH products, the asset has experienced over $4 billion in inflows this year, with about 30% occurring in the previous two weeks.
Ethereum inflows over the last 12 weeks make up 19.5% of all global Ether funds’ total assets under administration, while Bitcoin funds only make up 9.8%, according to CoinShares.
On July 11, ETH prices crossed over $3,000 for the first time since February. However, as of this writing, they have fallen back below that level, gaining 17% for the week.
