The volume of the second-largest cryptocurrency by market capitalization held by institutional and corporate investors has surpassed 10% of the total supply.
The combined holdings of major market participants have reached 12.4 million ETH.
The majority is held in spot Ethereum-ETFs -- 6.83 million ETH (5.64%). Corporate reserves account for 5.66 million ETH (4.68%).
Companies like BitMine and SharpLink have begun adding ether to their balances amid an influx of funds into altcoin-focused exchange-traded funds. This trend is compared to Strategy's aggressive accumulation of Bitcoin.
Data from SoSoValue confirms the trend. On October 6, Ethereum-ETFs attracted $181.73 million, marking positive momentum for the sixth consecutive day.
Instruments based on the first cryptocurrency recorded a net inflow of $1.21 billion -- the second-largest figure in history.
According to the report The Bitcoin Checkpoint, Bitcoin-ETFs collectively hold over 1.47 million BTC. American funds account for about 89%. Publicly traded companies hold more than 1 million BTC in reserves, with approximately 63% owned by Strategy.
On October 7, Ethereum's price reached $4700. In light of this, analysts at XWIN Research suggested the asset could rise to $10,000.