Ethereum sees a surge in investment from institutional investors, with over $1.9 billion pouring into spot Ether exchange-traded funds. Ether accounts for more than 84% of the funds, outpacing Bitcoin investments. Public companies like BitMine and GameSquare are adding millions in Ether to their balance sheets, driving interest in the cryptocurrency.

Analysts attribute Ethereum’s growing popularity to public companies adding millions in Ether to their balance sheets and the passage of stablecoin legislation in the US. More than 50% of stablecoins are minted on the Ethereum network, driving demand for the cryptocurrency. Ethereum’s smaller size compared to Bitcoin makes it more sensitive to investment, attracting attention from investors.

Despite Ethereum’s rapid rise to nearly $4,000, approximately $2.5 billion in short trades bet on the asset to decline in price. Bitcoin has dropped 1% in value to $118,300, while Ethereum also shed nearly 1% to $3,800. Analysts warn of potential bearish trends as Ethereum’s value continues to climb amidst growing interest and investment in the cryptocurrency market.

Read more at Yahoo Finance: Investors plough $2bn into Ethereum ETFs as companies scoop up billions