- Etherealize raised $40 million to push institutional use of Ethereum.
- Public companies added about $1.26 billion of ETH this week, including large buys from treasury firms.
- Derive founder Nick Forster said these buys and a possible Fed rate cut increase ETH’s upside, with a 44% chance of $6,000 by year-end.
- Ether trades near $4,400 after recent inflows, but remains below its late-August peak.
Etherealize announced on Wednesday it raised $40 million in a funding round led by Electric Capital and Paradigm, aiming to promote Ethereum to Wall Street and support institutional adoption, the company said.
The firm, launched in January with backing from the Ethereum Foundation and co-founder Vitalik Buterin, plans to use the funds to build crypto-based financial tools for institutions, including private trading and settlement systems for tokenized assets (digital tokens that represent ownership of real-world assets) and markets for tokenized fixed income products such as bonds.
“continue driving institutional adoption of Ethereum.” the company said in its announcement, and co-founder Danny Ryan added the raise would help upgrade “institutional finance to modern, safer, globally accessible rails.”
Public firms globally added about $1.26 billion worth of Ether this week, according to data. The largest single addition came from treasury firm The Ether Machine, which raised 150,000 ETH (about $654 million) on Tuesday.
Largest ETH holder BitMine Immersion Technologies also bought over 150,000 ETH in the prior week, with additional purchases shown in Arkham data.
Sharplink Gaming and Hong Kong-listed Yunfeng Financial made further purchases worth about $176 million and $44 million, respectively.
Nick Forster of crypto options platform Derive said the ETH buys and a possible Federal Reserve rate cut set the market up “for explosive potential heading into Q4.” He noted firms now hold nearly 4% of supply and could be “holding 6-10% of ETH’s supply by year-end, positioning them as a major force behind ETH’s price action.”
Forster assigned a 44% chance ETH reaches $6,000 by year-end and 30% odds by the end of October. Ether trades just under $4,400, up 1.8% on the day and down about 11.5% from its roughly $4,950 peak on Aug. 24.
Company social posts about the raise appeared on X, including from Etherealize.
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