Presto Head of Research: Ethereum Is Ready to Gain Wall Street’s Recognition

ChainCatcher reports that as the price of Ethereum (ETH) climbs to its highest level in nearly four years, U.S. spot Ethereum ETFs have set a new record for single-day net inflows. Data shows that on Monday, spot Ethereum ETFs attracted over $1 billion in inflows, bringing the total inflows for these nine funds to more than $8.2 billion so far this year.

These ETH-focused “treasury companies” have become a major driving force behind Ethereum’s rally. These publicly listed companies are continuously increasing their digital asset reserves. According to data from Strategic EthReserve.xyz, so-called “digital asset treasury companies” have collectively accumulated over $15 billion worth of ETH.

Peter, Head of Research at quantitative trading firm Presto, pointed out: “The recently passed stablecoin legislation and statements from the U.S. Securities and Exchange Commission Chair regarding cryptocurrencies indicate that the Ethereum blockchain is now poised to gain Wall Street’s recognition.”