Recently, the Ethereum market has witnessed a remarkable phenomenon: the open interest of large institutional investors and ETFs has surpassed 10% of the total supply of Ethereum. This data reveals the significant changes that the crypto assets market is undergoing.

According to data from October 7, financial institutions such as Bitmine hold 5.67 million Ether, accounting for 4.69% of the total supply. Meanwhile, the open interest of spot ETFs has reached 6.81 million coins, accounting for 5.63%. Together, these two hold 12.48 million Ether, accounting for 10.32% of the total supply. Considering that the total supply of Ethereum is approximately 120 million coins, this figure is undoubtedly quite astonishing.

This trend reflects the growing confidence of institutional investors in Ethereum. As a large amount of ETH is held by these institutions, the supply in the market decreases accordingly, which may drive up the price of ETH in the future, especially in the context of sustained demand.

The continuous net inflow of spot ETFs is also a notable signal. It indicates that funds from the traditional financial sector are pouring into the Ethereum market on a large scale. This not only enhances the legitimacy of Ethereum but also significantly boosts its liquidity.

Another noteworthy point is the large-scale accumulation behavior of treasury companies like Bitmine. These companies have advanced information channels and research capabilities, and their investment decisions are often based on in-depth analysis of the market and judgments of long-term value.

Overall, the current market data suggests that the future development prospects of Ethereum may be quite optimistic. The active participation of institutional investors, the imbalance between supply and demand, along with the continuous capital inflow brought by ETFs, could all become important factors driving the price of ETH upwards. Although retail investors may not be able to operate on a large scale like major institutions, understanding these market trends is still of significant reference value for investment decisions. A new chapter in the Ethereum market seems to be gradually unfolding, and it is worth our continued attention.