 
 
The Ether (ETH) price has hovered above the psychologically important $4,000 level despite a generally lackluster crypto market performance.
The second-largest crypto’s resilience has undoubtedly attracted the attention of deep-pocketed holders and publicly listed firms, including Yunfeng Financial Group Limited, a Hong Kong-listed firm with ties to Alibaba founder Jack Ma.
Recent disclosure suggests that Yunfeng Financial Group Limited has made a big bet on ETH.
Yunfeng Financial Scoops Up 10,000 ETH For Ether Treasury
In a voluntary announcement to current stakeholders and potential investors on Tuesday, Yunfeng Financial Group Limited, which was co-founded in 2010 by Jack Ma, revealed it had acquired 10,000 ETH, worth around $44 million, using internal cash reserves.
The ETH acquisition is part of Yunfeng’s push into Web3, real-world assets (RWAs), digital currency, and artificial intelligence (AI), which it revealed in July. Yunfeng Financial said it chose Ether as a reserve asset to support its technological plans in RWA tokenization, technological innovation, and the broader integration of finance with Web3 infrastructure.
 
“The Board believes that the ETH’s inclusion as the Company’s strategic reserve assets is consistent with the Group’s layout of expansion into frontier areas, including Web3, and provides key infrastructure support for Real World Assets (RWA) tokenization activities,” Yunfeng stated at the time.
A bevy of publicly traded firms, including Minneapolis, Minnesota-based online gambling marketer SharpLink Gaming and Tom Lee’s Bitmine Immersion Technologies, and the Ether Machine, have aggressively pursued Ether treasury strategies in recent months, purchasing massive amounts of ETH, mirroring the playbook that Michael Saylor’s Strategy (MSTR) popularized with Bitcoin.
Per the Tuesday announcement, ETH will be reflected as an investment asset on Yunfeng’s balance sheet. “The ETH are accounted for as investments in the financial statements of the Group.”
The firm also suggested that its ETH stash would help diversify its asset base and reduce reliance on traditional fiat currencies. Yunfeng further intends to explore Ethereum’s potential application in insurance operations and new business scenarios designed for decentralized finance.
Is $5,000 ETH Price Within Reach?
Ethereum is trading hands at $4,279 as of press time, reflecting a 2.1% drop over the last 24 hours.
Despite the correction, popular analyst CryptoGoos believes ETH’s macro structure is strong, with the altcoin king’s breakout from a falling wedge still in effect on the weekly chart.
The measured target of the falling wedge was $6,116, as illustrated in the captioned chart.
“Don’t sell your $ETH too early!” the analyst wrote in a Tuesday X post.
Part of Ether’s potential to rise higher comes from expectations that institutional adoption will continue to rise, as traders eye the $5,000 target as the next important milestone for the ETH price.
Source: https://zycrypto.com/jack-ma-linked-yunfeng-kicks-off-ethereum-treasury-with-44-million-buy-as-institutional-buying-ramps-up/
