Key takeout
- Bitwise Project Institutions and finance companies say that when buying more ETH than is issued, Hougan is driving the price higher.
- Ethereum is currently outperforming Bitcoin as Eth/BTC rises from 0.018 to 0.031 and BTC dominance slips from 66% to 61%.
Ethereum is poised to make further profits amidst the institutional demand and corporate purchases.
Over $10 billion in ETH have been purchased by ETPs and businesses since mid-May, accounting for 32 times the amount of new ETH issued during that period.
The second-largest cryptocurrency has surpassed Bitcoin in the past three months, up over 105% since mid-May, while Bitcoin has risen just 23%. That stretch marked the bottom of the ETH/BTC ratio as 0.018, then rose to 0.031.
The shift also reduced Bitcoin’s dominance from 66% to 61%, reflecting the growing momentum behind Ethereum. Over the past seven days, Bitcoin has only won 2% in nearly $120,000 trading, while Ethereum has risen 24% to $3,700, further highlighting ETH’s continued outperformance.
That momentum has attracted over 2.8 million ETHs from corporate buyers such as Bitmine Immersion Technologies, Sharplink Gaming, Bit Digital and Ether Machine, and has attracted more than $5 billion in new flows since May.
“Sometimes, it’s really that simple,” Hogan said, referring to the growing demand supply gap that will encourage Ethereum price viewing.
Bitise Projects ETPS and public companies can purchase up to 5.3 million ETHs next year, compared to the expected issuance of just 800,000 ETHs.
The company said that Ethereum ETP is lagging behind Bitcoin ETP in total assets while ETH Treasury companies trade premiums with their holdings.
