Ethereum breaks record for institutional build-up: 3 million ETH
The accumulation of ether (ETH) by public listing companies, DAOs, foundations, and governments has reached a new milestone with 3 million ETH in treasuries.
That figure is equivalent to $11.6 billion, according to the CryptoNotics price calculator.
This volume, guarded by 67 entities, reflects an explosive growth of 2,500% since April, when business holdings amounted to just 112,96 ETH.
Among the leading companies, BitMine Immersion Technologies tops the list with 833,100 ETH. The company is implementing an ambitious plan to reach 5 per cent of ETH’s operating supply. Its board of directors highlighted the speed of implementation of this purchasing strategy.
For its part, SharpLink, a betting firm listed on the Nasdaq, owns 521,900 ETH. Beyond accumulating, the company actively promotes Ethereum’s goodness in its networks, highlighting its potential to transform the traditional financial system.
Third, The Ether Machine, Inc. accumulates 345,400 ETH. This company focuses on generating ether returns, offering investors regulated and transparent access to Ethereum’s ecosystem through the stock market.
A key factor behind this trend is staking, which allows entities to generate an annual return of approximately 3%, giving ETH an additional appeal over bitcoin (BTC). This has incentivized companies to finance ETH purchases by issuing debt, such as shares or convertible bonds, rather than relying solely on operating income.
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