Presto Research Director: Ethereum is Ready to Win Wall Street's Approval

BlockBeats News, August 12th, as the second-largest cryptocurrency ETH surged to its highest level in nearly four years, the U.S. Ethereum spot ETF saw its largest single-day inflow of funds. Data shows that on Monday, the Ethereum spot ETF attracted a total of slightly over $1 billion in inflows. So far this year, the total inflow of these 9 funds has exceeded $8.2 billion.

It turns out that the focus on ETH by "treasury companies" is an important driver of the token's rise. These listed companies continue to expand their digital asset reserves. According to data compiled by Strategic EthReserve.xyz, the so-called "digital asset treasury companies" have so far absorbed over $15 billion worth of ETH. Peter, research director at the quant trading firm Presto, said: "Recent stablecoin legislation and the cryptocurrency roadmap outlined by the Chairman of the U.S. Securities and Exchange Commission both indicate that the Ethereum blockchain behind Ether is ready to win Wall Street's approval." (Gold10)