Ten Years Ago Today Ethernet Launches ICO Funding

On July 22, 2014, Ether launched its ICO funding, with the team raising funds through a pre-sale of ETH, raising a total of 31,529 Bitcoins (at a conversion rate of 1 Bitcoin to 2,000 Ether), or more than $18 million based on the market price at the time. Now, ten years later, the New York Stock Exchange's ARCA is approving the listing of five spot Ether ETFs, including VanEck, Invesco, Fidelity, 21Shares, and Franklin Templeton. As Ether researcher Justin Drake says, "ETH is the block space currency. Since EIP-1559, 4.3 million ETH has been burned to pay for gas. Millions more ETH will be used in block space. Through pledging, ETH provides $100 billion of economic security for ethereum, 10 times more than bitcoin. eth is also the premium collateral for DeFi and repledging, unlocking economies of scale bandwidth for the internet of value. eth is now widely recognized as a digital commodity. The institutional journey is about to begin."