10 funding companies purchased 550000 ETH worth 1.65 billion US dollars within 30 days

According to Kyle Reidhead, co-founder of Milk Road, in an article on X platform, 10 Ethereum fund companies have cumulatively purchased over 550000 ETH worth approximately $1.65 billion in the past 30 days, and the purchasing speed is accelerating. Among them, SharpLink Gaming has purchased over 75000 ETH (approximately $225 million) in the past 5 days. New ETH funding companies are established every week, and it is expected that the purchasing scale will continue to expand in the coming months. Reidhead pointed out that these fund companies are different from ETFs, currently only buying and not selling, and transferring the purchased ETH (0.5% of the flow) to Ethereum DeFi smart contracts for staking or lending. This trend may lead to a tight supply of ETH in the coming months, which will have a significant impact on the market.