Ethereum advocacy firm Etherealize has secured $40 million in funding from Electric Capital and Paradigm to push blockchain adoption on Wall Street. The company, backed by the Ethereum Foundation, aims to educate institutions on Ethereum and the Ether token.

Public firms added over $1.2 billion worth of ETH to their treasuries this week. The Ether Machine raised $654 million, while BitMine Immersion Technologies acquired $65 million worth of ETH. Sharplink Gaming and Yunfeng Financial also made substantial ETH purchases.

Crypto options platform Derive founder Nick Forster predicts a 44% chance that ETH will reach $6,000 by the end of the year. He attributes this to potential Federal Reserve rate cuts and increased ETH holdings by public companies, which currently account for nearly 4% of the token supply.

Ethereum’s current price is just under $4,400, up 1.8% on the day but down 11.5% since its recent peak. Forster forecasts a 30% chance of ETH hitting $6,000 by the end of October. The market remains volatile, with potential for significant price movements in the coming months.

Read more at Cointelegraph: Etherealize Raises $40M to Market Ethereum to Finance Firms