PANews reported on July 23 that according to The Block , since May 15 , ETFs and corporate treasuries have purchased a total of about 2.83 million Ethereum ( ETH ), which is 32 times the new supply of Ethereum in the same period, pushing the price of ETH up by more than 65% in the past month, and the cumulative increase since April has exceeded 160% . Matt Hougan , chief investment officer of Bitwise , said that this rise is mainly due to the imbalance between supply and demand, rather than changes in market sentiment. He predicts that the demand for Ethereum from ETFs and corporate treasuries will continue to grow in the next year, and may purchase about 533,000 ETH , with a total value of about US$ 20 billion, while the new supply in the same period is only 800,000 , further exacerbating the situation of supply and demand.