🚀 Ethereum’s July Rally: Just the Beginning?

July saw $ETH pump +50% 📈 — not by luck, but on the back of massive institutional inflows, even surpassing BTC. With giants like BlackRock’s ETHA ETF returning +29.48% YTD, allocators are asking: Why take single-stock risk when ETFs give pure-chain exposure? 🤔

Meanwhile, BitMine (BMNR) now holds 833k ETH ($2.9B) — the largest ETH treasury worldwide — and aims for 5% of total supply (~6M ETH). They’re stacking through fresh equity issuance, largely unfazed by price swings.

ETH supply is getting locked up:

🔒 Exchange reserves keep dropping

💰 $1B+ ETF inflows in July

📊 Staked ETH hits 36M (ATH, ~30% of supply)

Yet, macro headwinds bite — ETH closed July down -9%, almost double BTC’s drop. The question: Will treasuries & ETFs keep absorbing supply enough to fuel a Q4 breakout?

💡 If flows hold, ETH could shake off macro noise and push higher. Watch September’s Fed move — it might be the next big catalyst.