As the Ethereum community celebrates a decade of existence with key milestones on the way, the strategic ETH reserves held by global corporate players have hit the $10 billion mark. The overall corporate holding has reached 2.73 million with recent aggressive purchases from Bitmine Technologies, SharpLink Gaming, The Ether Machine, etc. On Ethereum’s 10th birthday, the ETH price is flirting around $3,865, with 56% upside over the past month.
Strategic ETH Reserves on Rise, The Ether Machine Grabs 3rd Spot
Amid the ongoing race for ETH treasury, companies like SharpLink Gaming and Bitmine Technologies have aggressively expanded their ETH holdings, with the two players holding over 1 million ETH combined. With its latest 15,000 ETH purchase, The Ether Machine’s subsidiary aka The Ether Reserve, has grabbed the third spot among ETH treasury firms, overtaking the Ethereum Foundation.
Celebrating Ethereum’s 10th Birthday
On July 30, The Ether Machine purchased 15,000 ETH at an average price of $3,809.97 per token, totaling approximately $56.9 million. The purchase is part of the firm’s long-term strategic ETH reserves and brings its total committed ETH holdings to 334,757. The company also disclosed that it still has up to $407 million available for further Ethereum acquisitions. Speaking on the development, The Ether Machine wrote:
“We couldn’t imagine a better way to commemorate Ethereum’s 10th birthday than by deepening our commitment to ether, We are just getting started. Our mandate is to accumulate, compound, and support ETH for the long term – not just as a financial asset, but as the backbone of a new internet economy.”
Ethereum co-founder Joseph Lubin celebrated key Ethereum milestones for a decade of existence with literally zero downtime. Lubin wrote: “Since its genesis block in 2015, Ethereum has demonstrated non-stop uptime, proving itself as the definition of antifragile. It has continually evolved to serve as a reliable trust layer for our fast-growing digital world”.
Ether ETFs Led By BlackRock See Major Inflows
As we can see in the above image, the overall institutional ETH accumulation is on the rise. The holdings of spot Ether ETFs have reached closer to 6 million, with BlackRock’s ETHA alone holding over 3 million ETH, with over $11 billion in assets under management.
Furthermore, the spot Ether ETF market is set to evolve with the US SEC recently acknowledging the ETH staking proposal by BlackRock. Analysts believe that staking in Ether ETFs could come by late 2025 or early 2026. This could further attract greater institutional inflows, accelerating the race for ETH reserves.
Furthermore, the ETH price is showing strength with nearly 56% upside over the past month, and is currently trading at $3865. Bulls are eying a breakout past $4,000, which could set the stage for a rally to fresh all-time highs.
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Source: https://coingape.com/eth-strategic-reserves-hits-10-billion-on-ethereum-10th-birthday/