Ethereum (ETH) price prediction: Bit Digital invests $172 million to get on board, expecting market capitalization to grow 10 times.

Today (8th) in the Asian early session, the price of Ethereum (ETH) remained stable above $2,500, after Bit Digital (BTBT) announced an investment of $172 million, along with the proceeds from the sale of 280 BTC, increasing its treasury Holdings to 100,603 ETH. Previously, CF Benchmarks predicted that the number of companies integrating Ethereum and Solana (SOL) on their balance sheets would grow tenfold.

NASDAQ-listed company Bit Digital stated that its Ethereum balance has increased to 100,603 ETH, making it one of the largest ETH asset management companies in the world. This is an increase of over 300% compared to the balance of 24,434 ETH at the end of Q1 2025.

The company revealed that it has used the net proceeds from last week's public offering (raising $172 million) and the sale of 280 BTC to advance its new ETH reserve strategy. Previously, the company announced last month that it would shift from Bitcoin mining to ETH native reserve.

Sam Tabar, the CEO of Bit Digital, stated that the company plans to double its efforts to fully capitalize on the long-term potential of Ethereum. He said, "We currently hold over 100,000 ETH, but we intend to actively increase our Holdings to become the world's leading ETH holding company."

Bit Digital is currently on par with top ETH fund allocators SharpLink Gaming (SBET) and BitMine (BMNR), the latter of which announced last week the purchase of ETH for $250 million.

People's interest in ETH fund management companies is growing increasingly strong, which corresponds with the rising interest in the stablecoin sector. According to data from DefiLlama, Ethereum holds a 50% market share in this field, leading the way. At the same time, banks and fintech companies are accelerating the launch of stablecoins in anticipation of the House approving the "GENIUS Act" next week (in line with the Senate's conclusion in June).

CF Benchmarks analysts indicate that these companies need to hold ETH or SOL on their balance sheets to pay for the settlement costs of stablecoin transactions.

CF Benchmarks Research Director Gabe Selby wrote: "We also expect that many payment gateways, remittance institutions, and e-commerce platforms will accumulate balances due to operational needs."

He added that, along with the rise of ETH fund management companies, the number of institutions holding ETH and SOL may increase tenfold in the next 12 months.

At the same time, according to CoinShares' weekly report, Ethereum investment products have achieved net inflows for 11 consecutive weeks, with institutional investors adding $226 million last week. The report stated: "On a proportional basis, during this period, the average weekly inflow accounted for 1.6% of assets under management (AuM), significantly higher than Bitcoin's 0.8%, highlighting that investor sentiment has clearly shifted towards favoring Ethereum."

Ethereum Price Prediction: ETH Approaching the Apex of the Symmetrical Triangle

Coinglass data shows that in the past 24 hours, the futures liquidation amount for Ethereum was 65.54 million USD, with the long liquidation amount being 26.16 million USD and the short liquidation amount being 39.38 million USD.

FXStreet analyst Michael Ebiekutan stated that ETH remained stable over the weekend, with trading prices basically above $2,500, and tested the upper boundary of the symmetrical triangle that has existed since June 11, before encountering a pullback. The weekend trend has moved ETH towards the apex of the triangle, indicating a potential breakout.

If ETH breaks through either side and further breaks through the wider symmetrical triangle that has been extending since April 9, ETH could rise to test the resistance level of $2,850 or drop towards the support level of $2,110.

The Relative Strength Index (RSI) and the Stochastic Oscillator (Stoch) are showing a downward trend, approaching neutral levels, indicating that bullish momentum is declining.

(Source: Trading View)