Recent data shows a significant increase in corporate Ether holdings, reaching 3.04 million ETH. This trend is supported by price increases for Ether, which is a positive sign for institutional investors.
BitMine Leads Institutional Buyers
BitMine Immersion Technologies has increased its holdings to 833,100 ETH, representing a 410.68% increase over the past month. This makes it the first corporate entity to hold over $3 billion in Ether. Last week, BitMine purchased 208,137 ETH, now valued at over $3.58 billion.
SharpLink and Ether Machine Expand Positions
SharpLink Gaming has also been aggressive in accumulating ETH, buying 83,562 ETH last week and raising its total to 521,900 ETH. Currently, these assets exceed $2.23 billion. The Ether Machine, the third-largest holder, made notable acquisitions, adding 15,000 ETH on August 3 and another 10,600 ETH later, bringing its total to almost $1.5 billion.
Institutional Confidence in ETH Growing
According to data, 64 companies tracked by Strategic ETH Reserve now hold ETH in their treasuries, reflecting growing institutional confidence in Ethereum. Their combined 3.04 million ETH coincides with ETH breaking the $4,300 mark.
The increase in corporate Ether holdings and confidence among institutional investors may significantly impact the cryptocurrency market, highlighting Ether's importance as the second-largest cryptocurrency by market capitalization.
