A clear indicator of renewed institutional confidence is the significant increase in Ethereum's open interest (OI), which has surged to an astonishing over $46 billion. This growth indicates a large influx of funds into Ethereum-related derivatives. Additionally, institutions are actively increasing their holdings of Ether; well-known firms like BitMine Immersion and SharpLink Gaming have significantly increased their Ether holdings. Moreover, just in the first two weeks of July, U.S. spot Ethereum exchange-traded funds (ETFs) recorded over $1.3 billion in net cash inflows, further enhancing this bullish sentiment and highlighting the growing adoption and investment interest in ETH among mainstream investors.
