Ethereum News Today: Ethereum Outpaces Bitcoin in Institutional Adoption as Firms Chase Yield and Efficiency

Ethereum's institutional adoption is gaining momentum, with major corporate treasuries expanding their holdings amid improving macroeconomic conditions. BitMine Immersion, the second-largest digital asset treasury (DAT) globally, reported acquiring 77,055 ETH last week, boosting its total stash to 3.31 million tokens—nearly 2.8% of Ethereum's circulating supply, according to an FXStreet forecast. This follows SharpLink Gaming's recent $78.3 million purchase of 19,271 ETH, which elevated its Ethereum treasury to over 859,000 tokens, valued at more than $3.6 billion, according to a Crypto.news article. Collectively, corporate treasuries now hold 5.98 million ETH, or 4.94% of the total supply, signaling sustained institutional demand for the asset, the Crypto.news piece noted.

The buying spree has coincided with a rebound in Ethereum's price, which climbed to $4,238 on October 27, up 7.5% in 24 hours, according to Crypto.news. BitMine's Chairman Thomas Lee attributed the bullish sentiment to progress in U.S.-China trade talks, which have bolstered risk-on assets. "While crypto fundamentals are uncorrelated to equities, historical data shows Ethereum performs better when equities rise, reinforcing its link to risk-on sentiment via leverage channels," Lee stated, as reported by FXStreet. This aligns with broader market optimism, as the S&P 500 and Nasdaq also saw gains amid easing trade tensions.

The surge in corporate accumulation has outpaced Bitcoin's institutional adoption. As of October 23, Ethereum treasury firms hold 3.2 million ETH, or 0.40% of the total supply, surpassing Bitcoin's corporate investors, who collectively hold 0.36% of 19 million BTC, according to a Yahoo Finance analysis. This shift reflects Ethereum's appeal as a yield-bearing asset post–Proof-of-Stake transition, which slashed energy consumption by 99% while enabling staking rewards, the Yahoo analysis added. BitMine's treasury now includes $14.2 billion in total assets, including $305 million in cash, 192 BTC, and an $88 million stake in Worldcoin, FXStreet reported.

Meanwhile, smaller players are also entering the fray. South Korea's Bitplanet launched a daily Bitcoin accumulation plan, while SpaceX transferred $133 million in Bitcoin to new wallets, according to a Decrypt report. These moves underscore a growing trend of corporations treating digital assets as strategic reserves. However, not all treasuries are expanding Ethereum holdings. Strategy, a Bitcoin-focused firm, recently added $43 million in BTC, pushing its total holdings to 640,808 coins worth $73.6 billion, as covered in a Decrypt article.

The market's near-term focus remains on Ethereum's price action. Analysts highlight $4,270 as a critical resistance level, with a successful breakout potentially propelling ETH toward October highs near $4,730, FXStreet observed. Conversely, short sellers have deployed $650 million in leverage around the $4,100 level, reflecting lingering caution, the Yahoo Finance analysis noted. For now, the positive momentum appears resilient, driven by both corporate demand and macroeconomic tailwinds.