Investment management firm Ark Invest has highlighted three reasons why the price of ethereum has been hitting record highs. The firm cited increased institutional interest, strong on-chain signals, and imminent protocol upgrades as the key reasons.
Why Ethereum Has Been Going Up
ARK Investment Management, also known as Ark Invest, published a research note last week explaining three key reasons why ethereum is breaking out to new all-time highs.
The first reason the firm’s analyst mentioned was “Increased institutional interest.” Ark Invest pointed out that a number of ether exchange-traded funds (ETFs) have launched in Canada, making it easier for institutional investors to gain exposure to the price of ETH. The note adds:
Institutions and companies like European Investment Bank and Visa have validated the Ethereum blockchain by announcing issuance and settlement use cases, respectively.
At the end of April, the European Investment Bank (EIB), a nonprofit organization and lendi
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