Wall Street capital is quietly reaching out to Ethereum. As traditional financial giants like BlackRock and Fidelity enter the market through Spot ETFs, a competition for ETH reserves led by listed companies has quietly begun. In just two months, over 50 institutions have hoarded more than 1.6 million ETH, worth over 5 billion USD. These new capital elites are no longer satisfied with passive holding; they are delving into staking, Yield Farming, and other aspects of the encryption economy. In just a few months, publicly listed companies in the US have initiated a wave of incorporating Ethereum into their balance sheets, from gambling tech companies on the brink of delisting to Bitcoin mining firms, from Silicon Valley pros to Ethereum co-founders. Corporate treasuries are becoming the capital backbone of the Ethereum ecosystem, and a capital competition surrounding Ethereum reserves is currently unfolding.

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