10 investment firms purchased 550,000 ETH within 30 days, worth $1.65 billion.

According to a message from Shenchao TechFlow on July 15, Milk Road co-founder Kyle Reidhead stated on the X platform that in the past 30 days, 10 Ethereum funding companies have collectively purchased over 550,000 ETH, with a total value of approximately $1.65 billion, and the purchasing speed is accelerating.

Among them, SharpLinkGaming has purchased over 75,000 ETH (approximately $225 million) in the past 5 days. New ETH funding companies are being established every week, and it is expected that the scale of purchases will continue to expand in the coming months.

Reidhead pointed out that these funds are different from ETFs; they currently only buy and do not sell, and the acquired ETH (accounting for 0.5% of the circulation) is transferred to Ethereum DeFi smart contracts for staking or lending. This trend may lead to a tightening of ETH supply in the coming months, having a significant impact on the market.