CoinWorld News reports that Bitwise Chief Investment Officer Matt Hougan stated that since May 15, over $5 billion has flowed into the Ethereum spot ETP market. Public companies such as Bitmine and SharpLink have announced Ethereum strategic reserves. ETPs and corporate treasury bonds have purchased a total of 2.83 million ETH, worth over $10 billion, equivalent to 32 times the net new supply during the same period. He predicts that ETPs and financial companies will purchase $20 billion worth of ETH next year, which at current prices equates to 5.33 million ETH, or 7 times the net new supply during the same period.