More than $6.7 billion has poured into the nine US-listed Ether spot ETFs year to date. At the same time, Ether-focused “digital-asset treasury firms” — companies that are essentially vehicles for amassing holdings of the toke — have scooped up more than $12 billion worth of the cryptocurrency, based on figures from tracking site strategicethreserve.xyz.
The token’s momentum also coincides with a broader rotation within digital assets, as institutional allocators and developers look beyond Bitcoin amid growing adoption of stablecoins as well as tokenized real-world assets and smart-contract platforms, many of which run on the Ethereum blockchain. Ether is the native cryptocurrency of that network.
“Bitcoin dominance has started to fall meaningfully as banks, fintechs, and corporates embrace stablecoins, many of which will be settled on open-source blockchains like Ethereum,” said Matthew Sigel, head of digital assets research at VanEck. “Capital markets are still very open to digital-asset treasury companies, which is adding buying pressure in the ETH spot market.”
