Ethereum (ETH) treasury companies have purchased at least 1.6 billion dollars in the past month, amid a backdrop of institutions actively accumulating as prices soar.
According to a recent announcement, companies holding ETH treasuries have accumulated over 545,000 coins in the past 30 days.
On Monday, BitMine Immersion Technologies, led by Tom Lee (Fundstrat), announced that the total amount of ETH they hold is 163,142 ETH, worth approximately 480 million dollars at current market prices.
Comparing to Michael Saylor and Strategy's strong Bitcoin accumulation strategy, Tom Lee stated:
'ETH treasuries that can accumulate 5% of the total ETH supply will also receive similar protection from Wall Street',
implying that Wall Street may shift to a positive trend with Ethereum just as it has with Bitcoin and Strategy.
Joseph Lubin's SharpLink - the new 'King of ETH Treasury'
Meanwhile, Joseph Lubin's gaming platform SharpLink purchased an additional 10,000 ETH on July 11, 16,370 ETH on July 13, and 24,371 ETH worth 73.2 million dollars on Monday.
The total amount of ETH that SharpLink is holding has surpassed 255,000 ETH, making them the largest Ethereum treasury in the business sector.
ConsenSys founder Joseph Lubin humorously called himself: 'The self-proclaimed representative of the league of extraordinary ETH accumulators', while praising BitMine and others for their recent accumulation speed.
The list of ETH treasury companies is expanding
Other businesses have also recently purchased ETH to add to their corporate asset treasury, including the digital asset platform Bit Digital, which currently holds over 100,000 ETH, and Blockchain Technology Consensus Solutions (BTCS), which raised 62.4 million dollars to expand its holdings to 29,122 ETH this month.
Meanwhile, GameSquare announced a strategic plan to build a 100 million dollar ETH treasury on July 8.
Nearly 1 billion dollars flowing into ETH investment funds
According to a report from CoinShares on Monday, digital investment funds based on ETH have just recorded their 12th consecutive week of inflows, with a total value of up to 990 million dollars - this is the fourth largest inflow week ever recorded.
Since the beginning of the year, ETH investment products have attracted over 4 billion dollars, with nearly 30% of that achieved in just the last 2 weeks, as financial institutions accelerate their accumulation of this asset.
In the past 12 weeks, capital inflows into ETH accounted for 19.5% of total assets under management (AUM) of all global Ethereum funds, while the corresponding figure for Bitcoin was only 9.8%.
In terms of price, ETH surpassed the 3,000 dollar mark on July 11 - the first time since February, but is currently adjusting below this level, although it has still increased by 17% in the past week.
