Ethereum-backed stocks are booming – Here’s what’s fueling the surge

• Shares supported by ETH increased 2 July two -digit percent.
• Increased acceptance of ETH could drive this increase and have since increased by 8.1%.

Publicly traded companies with links to Ethereum [ETH] 2 July rising above. There is also a growing trend of companies that move their reserves Bitcoin [BTC] on Ethereum.

In particular Bitmine Immersion Technologies, BTC mining company, announced his plans Transition to the transition to the asset of ETH its primary reserve.

The shares of the company, BmnrHe was 27.17%on Trading Close on Wednesday. By the end of May, the Sharpink Gaming betting platform revealed his strategy Treasury ETH.

The recent update noted that its ETH was held at 1987 ETH, with 222 ETH, which rewards rewards from 2 June. The shares of the company, SBET, increased 28% Wednesday.

Bit Digital, Public Traded Platform of Digital Assets, notified Last week, his departure from BTC mining and strategic move to the pure play of Ethereum and the Ministry of Finance.

Received the proceeds from the share of shares of $ 162.9 million Buy Ethereum. BTBT bit digital gained 13.85% July 2.

Why do the value of ETH and ETH stocks move?

Devin Ryan, the head of financial technology research in citizens, attributed the growing value to the growing cases of using cryptocurrency. Said

“In the end we are when there are cases of actual use.”

Acceptance of ETH, especially through stablecoins and tokenization, is a key step towards the wider use of digital assets in various financial applications. Ryan continued

“… Stablecoins were the first version of it on a scale, but they open the door to a much larger story around the tokenization of other assets and the use of digital assets in new ways.”

Data from investors They showed that while Bitcoin ended his 15 -day ETF flows in July 1, Ethereum Spot ETFS saw a tide of $ 40.7 million.

Closer control of the ETH ETF ETFs showed that June saw the strong demand of investors.

It was a welcome change from the negative flows observed in March and April, raising concerns that zombie funds were becoming.

The growing valuation of Ethereum-Rore-Rotoroentive Treasury and Strategy Strategy would be a welcome view of Ethereum Community Foundation.

The newly introduced independent entity is aimed at strengthening the ecosystem Ethereum and appreciation of ETH prices.

The ECF will focus on the financing infrastructure that burns ETH and repair the incorrectly affordable blob space.