According to Mars Finance and reports from Decrypt, Strategic ETH Reserve data shows that approximately 7.98% of the Ethereum (ETH) supply is held by ETFs and corporate treasuries, a significant increase from 3% at the beginning of April. Among them, the amount of ETH held by ETFs exceeds 6.15 million, accounting for over 5% of the circulating supply. Meanwhile, corporate holdings have grown from zero to millions, with representative companies including Bitmine Immersion Tech (holding 1.2 million), The Ether Machine (holding 598,800), and SharpLink Gaming (holding 345,400). Since the beginning of April, the price of Ethereum has risen from $1,800 to about $4,300, and the total size of ETH funds has doubled within a month, reaching $31.9 billion. Analysts say that institutions and publicly listed companies that missed the Bitcoin treasury trend are viewing Ethereum as a high-risk, high-reward investment target and are optimistic about its diversified ecological applications beyond value storage.