news 
Title: Institutions Go All in on ETH: Bit Digital, Tom Lee’s BitMine Bet on Ethereum
As the crypto market continues to soar, institutional investors are increasingly turning their attention to Ethereum (ETH), with significant investments and treasury expansions being reported. In recent news, Bit Digital has announced a $67.3 million raise to expand its Ethereum holdings, while Tom Lee’s BitMine Immersion Technologies revealed it now holds an impressive 163,142 ETH tokens worth around $480 million at current market prices.
The move marks a significant shift for Bit Digital, as the firm moves away from its Bitcoin (BTC) mining roots and pivots towards becoming a dedicated institutional Ethereum holder and staker. The news comes amid reports of corporate treasuries collectively accumulating over 545,000 ETH in just 30 days. This substantial growth has led to Ethereum investment funds logging their 12th consecutive week of inflows.
The trend is not limited to new investments alone; existing funds have also seen significant inflows, with the cumulative total surpassing $4 billion for the year. It’s been two weeks since we last reported on this surge in ETH demand and, during that time, institutional investors intensified their exposure to Ethereum, fueling a long-term price increase.
The recent growth has led many analysts to conclude that Ethereum is one of the best cryptocurrencies to invest in for the foreseeable future.
Source: www.coinspeaker.com
