SharpLink Gaming and BitMine are taking significant steps in Ethereum accumulation, reflecting the growing interest from institutional investors in this cryptocurrency.
Ethereum Reserves of SharpLink Gaming
SharpLink Gaming, a Nasdaq-listed company, announced that its Ethereum reserves have increased to 360,807 ETH, which is approximately $1.32 billion at current prices. The company became the largest public holder of Ethereum in the world earlier this June.
Launch of BitMine Options Trading
BitMine, a crypto mining and investment firm, has commenced options trading on the New York Stock Exchange, which is expected to enhance investor access and boost liquidity. BitMine aims to acquire 5% of the total Ethereum supply.
Institutional Interest in Ethereum
These developments come amid rising institutional interest in Ethereum as a store of value. Clarifications from regulators in the US and increasing demand for yield-bearing digital assets are contributing to this trend. The passing of the GENIUS Act, which clarifies taxation on staking rewards, is also aiding this shift towards Ethereum.
The actions of SharpLink Gaming and BitMine highlight the growing institutional interest in Ethereum and its potential role in corporate treasuries.
