Institutional holdings of $ETH have exceeded 7%, currently the total strategic reserve of Ethereum is 2.73 million pieces, valued at 10 billion USD, accounting for 2.26% of the supply; Ethereum ETF holdings are 5.87 million pieces, valued at 21.6 billion USD, accounting for 4.87% of the supply, totaling 7.13%, and continuing to grow. This wave of market is completely driven by institutional investors.