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Benzinga
Benzinga
Business
Murtuza J Merchant

Ethereum Treasury Company Trend 'Will Accelerate', Says Bitwise's Matt Hougan—Here's What It Means For ETH's Price

Matt Hougan Bitwise Ethereum Bitcoin
Ethereum

Ethereum's (CRYPTO: ETH) recent price rally is being driven by a sharp imbalance between new supply and institutional demand, according to Bitwise Chief Investment Officer Matt Hougan.

What Happened: In an X thread posted on Tuesday, Hougan cited data showing that Ethereum exchange-traded products (ETPs) and corporate treasuries have purchased over 2.83 million ETH since mid-May, more than 32 times the net new supply generated by the network in the same period.

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