Core Viewpoint - The surge in Ethereum's price is driven by significant corporate accumulation and record inflows into spot Ethereum ETFs, pushing the cryptocurrency to new heights [3][10]. Group 1: Corporate Accumulation - Bitmine Immersion Technologies plans to raise up to $20 billion through an "at-the-market" equity program to purchase more Ethereum, positioning itself as a major player in the Ethereum market [5][7]. - Bitmine currently holds 1.15 million Ethereum, valued at approximately $5 billion, representing about 1% of the total circulating supply, with a goal to eventually hold 5% [7][8]. - SharpLink Gaming has raised $400 million to increase its Ethereum treasury to over $3 billion, holding approximately 280,706 Ethereum valued at just over $1 billion [9]. Group 2: ETF Demand - Since the approval of spot Ethereum ETFs in July 2024, total net inflows have reached $9.4 billion, with over half ($5 billion) coming in the last 30 days [10]. - A record single-day net inflow of over $1 billion was recorded recently, indicating strong market demand for Ethereum as an investment asset [10]. Group 3: Supply and Demand Dynamics - The combined buying from corporate treasuries and ETFs has significantly impacted Ethereum's supply-demand dynamics, with purchases since May estimated to be 32 times the new supply mined during the same period [11]. - Analysts predict that the ongoing supply-demand imbalance could lead to further increases in Ethereum's price [11]. Group 4: Future of Corporate Treasuries - The development of Ethereum treasury companies is just beginning, with potential holdings expected to grow tenfold, possibly reaching 10% of Ethereum's total supply [12]. - Other companies, including Coinbase, are also adopting similar treasury strategies, indicating a broader trend in the cryptocurrency market [12].
“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
美股IPO·2025-08-13 03:40