According to online reports, according to David Duong, director of institutional research at Coinbase, since early August, major Ethereum treasury entities have purchased more than 795,000 ETH units worth approximately US$3.6 billion. These institutions currently control more than 2% of the total supply of ETH. Specific purchase details show: on August 10, BMNR purchased 317,100 ETH; on August 11, ETHZilla purchased 82,200 ETH; on August 14, SBET purchased 206,500 ETH. BMNR's new round of financing of US$20 billion brings its total ability to purchase ETH to US$24.5 billion.