Ethereum Market Cap Holds Steady at $500 Billion, Initially Meeting Investment Thresholds in Some US States

On August 10, it was reported that as Ethereum's total market capitalization surpassed $500 billion, it has preliminarily met the public fund investment thresholds set by certain U.S. states: On May 7, New Hampshire passed the Strategic Bitcoin Reserve Bill, which stipulates that the state treasurer may invest up to 5% of public funds from the general fund and other authorized funds in these assets, provided that the crypto assets have a market capitalization exceeding $50 billion. On June 22, the Governor of Texas signed the Bitcoin Reserve Bill SB 21 into law, officially establishing a state-managed fund that will only invest in cryptocurrencies with an average market capitalization of at least $50 billion over the past 12 months and that are eligible for state budget appropriations. On March 25, the Oklahoma House of Representatives voted to pass the Strategic Bitcoin Reserve Bill (not yet formally enacted into law), which would allow the state to invest up to 10% of public funds in Bitcoin or any digital asset with a market capitalization exceeding $50 billion.