Why did ETH "surge strongly" and exceed the $4.4K threshold?

• Enormous capital flow from ETH ETFs: The spot Ethereum ETF in the U.S. is attracting record capital — the total amount of capital invested has reached $7.1 billion since the beginning of the year, of which $5.3 billion came in just the past month. On August 12, a single day recorded over $1 billion flowing into the ETH spot ETF, pushing ETH price above $4,600

• Corporate entities are aggressively "eating ETH":

• BitMine Immersion Technologies is currently the public company holding the most ETH globally (~1.15 million ETH, worth nearly $5 billion).

• The company has even applied to expand its stock sale plan (ATM offering) to up to $24.5 billion to continue buying more ETH, aiming to hold up to 5% of the total ETH supply.

• SharpLink Gaming – led by Joseph Lubin (co-founder of Ethereum) – is also quickly accumulating ETH. They have purchased an additional 83,560 ETH from the end of July to the beginning of August, bringing their total ETH holdings to about 521,939 ETH (with an average purchase price of about $3,634/ETH). Recently, they also finalized a $400 million stock sale agreement with institutional investors to increase their ETH fund to over $3 billion.

• Summary: ETF + corporate entities = strong increase in the demand for "real" ETH holdings, unlike BTC which is just a store of value, helping ETH surge past the $4,400 threshold.