Ethereum is experiencing a surge in investment activity, with notable attention from investors, particularly Abraxas Capital. In just two weeks, this digital asset management firm has invested over $837 million worth of ETH. This buying spree began on May 7th when the firm acquired 46,295 ETH for an estimated value of $115.3 million. As per Arkham Intel data, Abraxas Capital now holds well over $959 million in cryptocurrency with the majority being allocated to Ethereum, which is either staked or used as collateral in various DeFi protocols. 40% of their holdings are directly invested into Aave, holding a significant portion of ETH derivative tokens. On-chain data reveals that this firm’s most valuable asset is AWETH (a representation of ETH stake in Aave’s ETH market) followed by WSTETH, AWSTETH, WEETH, and various other ETH derivatives alongside altcoins. 60% year-to-date increase in Ethereum price since the start of April has fueled investor interest in the cryptocurrency. Ethereum’s price has seen a dramatic surge since May 6th (up nearly 41%) coinciding with Abraxas Capital’s purchase, soaring from $1,770 to as high as $2,690 before settling near $2,511 on CoinMarketCap. The surge marks Ethereum’s recovery after lagging behind in market performance for months.