“第一财库”再增“200亿美元子弹”，以太坊“火上浇油”突破4500美元大关

Core Insights - The price of Ethereum (ETH) surged to a new high of over $4500, driven by significant corporate accumulation and record inflows into Ethereum ETFs [1][3][8] - Bitmine Immersion Technologies announced plans to raise up to $20 billion through an equity offering to purchase more Ethereum, highlighting the aggressive strategy of corporate treasury companies [3][4] - The demand for spot Ethereum ETFs has increased dramatically, with total net inflows reaching $9.4 billion since their approval in July 2024, indicating strong market interest [8][9] Group 1: Corporate Accumulation - Bitmine Immersion Technologies is positioning itself as a major player in the Ethereum market, aiming to hold 5% of the total circulating supply of Ethereum [4][10] - The company currently holds approximately 1.15 million ETH, valued at around $5 billion, which constitutes about 1% of the total supply [4] - SharpLink Gaming has also entered the competition, raising $400 million to increase its Ethereum treasury to over $3 billion, reflecting the intensifying race among companies to accumulate Ethereum [7] Group 2: ETF Demand - The recent surge in demand for spot Ethereum ETFs has been a key driver of price increases, with over $5 billion of the total $9.4 billion in net inflows occurring in the last 30 days [8] - A record single-day net inflow of over $1 billion was recorded for these ETFs, showcasing the growing acceptance of Ethereum as an investment asset [8] - The influx of funds from both corporate treasuries and ETFs is significantly impacting the supply-demand dynamics of Ethereum, with purchases outpacing new supply by a factor of 32 since May [9] Group 3: Future Outlook - The development of Ethereum treasury companies is still in its early stages, with potential for holdings to grow tenfold, possibly reaching 10% of the total supply [10] - Other companies, including Coinbase, are also adopting similar treasury strategies, indicating a broader trend in the cryptocurrency market [10] - The fundamentals of the Ethereum ecosystem, including its role in stablecoin issuance and successful IPOs, are enhancing its long-term value proposition [10]