Latest data shows that ETH is experiencing an unprecedented institutional 'buying spree.' Strategic ETH Reserve points out that currently about 7.98% of the ETH supply has been locked up by ETFs and corporate treasuries, while this ratio was only 3% in early April.
Among them, ETFs hold over 6.15 million ETH (accounting for over 5% of the circulating supply), while corporate holdings have surged from zero to the million-level — Bitmine Immersion Tech alone holds 1.2 million, The Ether Machine owns 598,800, and SharpLink Gaming has accumulated 345,400.
In terms of price, ETH has skyrocketed from $1,800 in early April to about $4,300 currently, with the total fund size doubling to $31.9 billion in a month. Analysts say that institutions and listed companies, having missed the Bitcoin treasury wave, are now viewing ETH as a high-risk, high-reward asset and are optimistic about its diverse ecological applications beyond value storage.
This wave of institutional 'locking up' may become the biggest driving force for the next round of ETH market.