Nate Geraci, president of The ETF Store, stated on X platform that ETFs (exchange-traded funds) and treasury companies have purchased $19 billion worth of Ethereum so far this year. ETFs purchased $7 billion, while companies purchased $12 billion.

"As banks, fintech companies, and enterprises begin to accept stablecoins, many of these stablecoins will settle on open-source blockchains like Ethereum. The dominance of Bitcoin has started to significantly decline."