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Institutional Influx into Ethereum
The current market focus and institutional investment trends are gradually shifting from Bitcoin to Ethereum. The prevailing view suggests that amid Wall Street’s substantial bets on Bitcoin, approximately 10% of Bitcoin’s total supply has been acquired by Wall Street, with around 6.5% in ETFs and about 3.5% in publicly traded companies. In contrast, Wall Street has so far purchased only about 6.4% of Ethereum’s total supply. If institutional investors on Wall Street can acquire 10%, Ethereum is likely to achieve better performance than Bitcoin.
Michael Saylor Firmly Believes Bitcoin is King
In response to the market changes, Strategy founder Michael Saylor expressed no signs of concern. In an interview with Bloomberg on Friday, he stated, “I believe the entire crypto economy is experiencing an explosion of innovation, and from a marginal effect perspective, this is beneficial for all participants in the digital asset space.” However, Saylor added that the number of companies holding Bitcoin has increased from about 60 to 160 over the past six months, and he still believes that the vast majority of funds flowing into this sector will continue to go toward Bitcoin. According to data from BitcoinTreasuries.NET, Strategy is the publicly traded company holding the most Bitcoin globally, with 628,791 BTC valued at approximately $74.15 billion. The second-ranked MARA Holdings holds only about 50,639 BTC, representing a difference of over 12 times.
Ethereum’s Resurgence Was Anticipated
Many participants in the crypto market attribute this wave of price increase to the rising demand for Ethereum from institutions and ETFs. Reports indicate that the market capitalization of publicly traded companies holding Ethereum has ballooned to $11.77 billion, with BitMine Immersion Technologies and SharpLink Gaming leading the way. BitMine holds 833,100 ETH, valued at $3.2 billion, making it the fourth largest holding among all publicly traded companies with any cryptocurrency. SharpLink and The Ether Machine hold ETH valued at $2 billion and $1.34 billion, respectively.
