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According to Jinse Finance, as Ether, the world’s second-largest cryptocurrency, surged to its highest level in nearly four years, US-based Ether-focused exchange-traded funds recorded their largest single-day inflow. Data shows that on Monday, spot Ether ETFs collectively attracted just over $1 billion in inflows. Since the beginning of this year, the total inflow for these nine funds has exceeded $8.2 billion. It has become evident that Ether-focused “treasury companies” are a significant driving force behind the token’s rally. These publicly listed companies are continuously expanding their digital asset reserves. According to data compiled by Strategic EthReserve.xyz, so-called “Digital Asset Treasury Companies (DATs)” have so far accumulated more than $15 billion worth of Ether. Peter, Head of Research at quantitative trading firm Presto, stated: “The recently passed stablecoin legislation and the US Securities and Exchange Commission Chairman’s speech on cryptocurrency initiatives both indicate that the Ethereum blockchain behind Ether is now poised to gain Wall Street’s recognition.”

According to a report by Jinse Finance, charts released by @ImCryptOpus indicate that Ethereum is leading the cryptocurrency market in July, with corporate holdings surging to 2.7 million ETH. Additionally, 24 companies have added Ethereum to their balance sheets.