news 
Ether ETFs Reach $17 Billion in Weekly Trading Volume as BMNR Accumulates 135,000 ETH
In a remarkable turn of events, the world’s crypto market has witnessed record-breaking trading volumes. This surge is being fueled by the growing popularity and acceptance of Ether Exchange-Traded Funds (ETFs). According to recent data, these ETFs have reached an astonishing $40 billion in weekly activity, with Ether ETFs alone contributing $17 billion.
The impressive numbers are a testament to the increasing interest from institutional investors in the digital assets market. This surge is not only remarkable but also has significant implications for the crypto space as a whole.
Meanwhile, another notable development took place, as Bitmine (BMNR) acquired an enormous 135,000 Ethereum coins, worth $600 million, within just ten hours. These purchases were executed through various structured venues such as FalconX, Galaxy Digital, and BitGo.
As a result of this move, BMNR’s Ethereum reserves now stand at nearly 1.3 million ETH, valued at approximately $5.77 billion at current prices. Further analysis revealed that the accumulation occurred through multiple large transactions, including purchases of 26,145 ETH worth $115.68 million and 21,287 ETH worth $93.79 million.
Notably, BMNR’s activities have brought their Ethereum reserves to a massive scale, with the potential impact on Ethereum’s supply chain being considerable.
Source: cryptotale.org
