Ethereum builds momentum as reserves and ETFs hit new records
The second-largest crypto by market cap has had an outsized week of action, with the largest spot ETF hitting $10 billion AUM.
Ethereum continues to gather momentum, with a slew of companies adding Ethereum to their reserves. Ethereum ETFs also celebrated their first birthday this week, and one particular fund is seeing massive inflows. Overall, the asset is up 6.3% in the past week.
BitMine Immersion Technologies announced its ethereum holdings now exceed $2 billion, up from $500 million last week. The company, in which Peter Thiel recently bought a 9.1% stake, now holds 560,000 ethereum.
SharpLink Gaming (whose chairman is Joseph Lubin) acquired 79,949 ethereum, “the highest weekly amount,” and now holds 360,807 ethereum.
President Trump-backed World Liberty Financial (WLFI) also acquired 3,743 ethereum and now holds 73,616 ethereum, according to Lookonchain.
Meanwhile, iShares Ethereum Trust ETF just hit $10 billion in assets under management in just one year. This represents “the 3rd fastest ETF to hit that mark in history after (you guessed it) two bitcoin ETFs $IBIT & $FBTC. Amazingly it went from $5b to $10b in just 10 days (ETF asset equiv of a God candle). Is in Top 5 in flows,” Bloomberg Intelligence analyst Eric Balchunas posted on X.
