Ether’s recent price action may be fueled by more than just sentiment. According to Bitwise Asset Management Chief Investment Officer Matthew Hougan, the world’s second-largest crypto asset is undergoing what he calls a “demand shock,” driven by surging inflows into exchange-traded products and new corporate treasury strategies.
In a thread posted Tuesday on X, Hougan broke down why he believes ether’s rally is only getting started. Since mid-May, he estimates that spot ETH exchange-traded products (ETPs) and corporate treasuries have acquired a combined 2.83 million ETH — roughly $10 billion at current prices. That’s 32 times greater than the amount of net new ETH issued during the same period.
“Sometimes, it really is that easy,” Hougan wrote, referencing the role of supply and demand in determining short-term prices. He noted that while bitcoin has benefited from this dynamic for more than a year, ETH only began experiencing the same effect recently.
According to Houga
We współpracy z: https://www.coindesk.com/markets/2025/07/23/bitwise-cio-on-ether-s-demand-shock-why-eth-s-rally-has-staying-power
