According to news on July 22, Ethereum officially launched ICO financing on July 22, 2014. The team raised funds by pre-selling ETH at that time, raising a total of 31,529 bitcoins (the exchange rate was 1 bitcoin for 2,000 Ethereum). According to the market price at that time, the funds raised exceeded 18 million US dollars. Ten years later, the New York Stock Exchange ARCA is approving the listing of 5 Ethereum spot ETFs including VanEck, Invesco, Fidelity, 21Shares, and Franklin Templeton. As Ethereum researcher Justin Drake said, "ETH is the block space currency. Since EIP-1559, 4.3 million ETH have been burned to pay gas fees. Millions more ETH will be used for block space. Through staking, ETH provides Ethereum with $100 billion in economic security, which is 10 times that of Bitcoin. ETH is also a high-quality collateral for DeFi and re-staking, unlocking the scale economy bandwidth for the value Internet. ETH is now widely recognized as a digital commodity. The institutional journey is about to begin."