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Ethereum (ETH) has just triggered a rare golden cross on the weekly chart, but the real story may lie in what is happening beyond the charts. As the 23-week moving average quietly edged above the 200-week average for the first time in over a year, a wave of corporate interest in ETH has begun to emerge — and the numbers are growing too great to ignore.
According to a new DropsTab snapshot, a group of publicly listed companies now hold $7.59 billion worth of ETH reserves.
However, their combined target is more than four times that size: a total allocation of $30.4 billion. This leaves a potential ETH demand gap of nearly $23 billion still on the table. For some of these firms, it is not just a hedge — it is a strategy.
Bitmine (BMNR) is leading the way with a goal of $22 billion, with the explicit aim of acquiring around 5% of Ethereum’s total supply. Others, such as SharpLink Gaming and BTCS Inc., are also ramping up, with reserve targets of $3.6 billion and $2 billion, respectively, which are significantly above their current ETH positions. While these figures may sound ambitious, the trend behind them is already in motion.
Stars align for "digital oil"
Now we have a technical breakout flashing green just as institutional buyers line up to scale in. Whether this is a coincidence or perfect timing, the situation is striking: a supply shortage could be forming, and this time it is not being driven by hype but by balance sheets.
Price action is no longer the main focus — positioning is now the key. With the golden cross forming and large investors preparing to invest, ETH may be entering a new cycle, where fundamentals and macro demand finally align.
Dan Burgin
Vladislav Sopov
U.Today Editorial Team