Companies are increasingly looking at ethereum as an asset to own as the financial services industry and crypto world converge. CNBC's Tanaya Macheel reports on the recent move in Ethereum prices.

New York

Ethereum has experienced a notable rally, rising nearly 50% in the past month, as companies increasingly adopt crypto treasury strategies. Recent developments include the Ether Machine's plans to list on Nasdaq through a merger, and Mercurity Fintech's agreement to fund a Solana treasury, highlighting growing corporate engagement in the crypto sector.

The market's renewed interest in Ethereum is attributed to increased regulatory clarity and the resurgence of ETH-focused ETFs. While Bitcoin continues to attract attention, the leadership in the crypto market appears to be shifting, with institutions expressing interest in tokenization and stablecoins. The $4,000 price level for ETH remains a key psychological and technical milestone for investors.

Ethereum rallies as companies deploy crypto treasury strategies

Less than 20 minutes until the closing bell S&P sitting on about a quarter percent gain. Ethereum has been on a tear rallying nearly 50 percent this month alone. Today Mikhail is here with more on this big move and how it relates to the rest of crypto. Yeah Mike so the crypto market just kind of taking a breather right now after the momentous week that we had last week. But I do expect that to come back a little bit as the public markets open up to crypto. Let's talk crypto treasury companies. This morning we saw another group come out. The ether machine. They've got plans to list on the Nasdaq through a merger with Dynamics Dynamics. Those shares up getting a nice boost today. Their focus being on ether and staking of that ETH. Mercurity fintech also entering an agreement to fund a Solana treasury sold today's standout in crypto up about 7 percent. And then their IPO is bullish and grayscale filing last week to go public and then go again today. So still make lots of interest in Bitcoin. But interesting to see the leadership pendulum in crypto shifting a bit here as the industry gets a chance to invest and innovate in in the crypto market without so much worry about the regulatory risk that's been manifesting as you said at the top in ETH related names. So ETH is trading at December highs. This is an interesting spot to watch because that 4000 dollar mark has been a real psychological and technical technological test for investors. I mean IPOs with company named bullish crypto. I mean I think you have to at least just sort of you know take note of what's going on here. Now when it comes to the way ETH has traded relative to Bitcoin I see people kind of convey that there's some kind of fair value ratio or some tendencies about how they should trade relative to one another. But yet I don't know. They're kind of used for different things are they not a theory. I mean the supply is not fixed and predetermined. So how should we think about that relationship. This has been so interesting because for the past year or so we have been going through this narrative issue with ETH. Initially it was this idea. You know a year ago people were not really sure what Bitcoin was. They were like is it a sort of value. Is it something that trades as a risk asset. And then ETH was this asset that people understood a little bit more. They said it's like a Web3 app store. You can build apps on top of it. That was much more easier. It was much easier to understand for investors. And then somewhere along the way people just got the Bitcoin narrative and it completely flipped. And then with all of the regulatory uncertainty investors kind of just pushed ETH off to the side. And now we are seeing the ETH ETFs come back to life over the last three months. We've got all of this regulatory clarity. We have gotten regulatory clarity and I think we will be getting more. And you were starting to see that narrative brands and institutions coming back in and saying we are interested in token tokenization. We are interested in stable coins. So I think three months ago it seemed like the ETH narrative had kind of flipped. Now it kind of feels like 10 years on from its inception. It's right. It's interesting.

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