#ETHRally

Ethereum is trading around the $4700 mark, approximately 5% from the historical maximum of November 2021

Institutional demand for ETH remains strong. As of the close of trading on August 12, another $594 million of net capital inflow from investors was added to American spot exchange-traded funds (ETFs) based on Ethereum (the day before it was $1.02 billion). Of this amount, $318 million came from BlackRock's fund and $145 million from Fidelity's ETF.

Bitmine, the largest public holder of Ethereum, continues to build reserves by issuing its own shares. On August 12, the company submitted documents to increase the maximum placement volume to $24.5 billion. On the same day, an additional 5226 ETH (over $23 million) was received in the public wallet of Sharplink, the second-largest public holder of ETH.