Cointelegraph analyzed 16 company statements made this week and found a whopping $7.8 billion has been earmarked or used to buy crypto.

Crypto treasury firms have begun moves to buy over $7.8 billion worth of cryptocurrencies this week, in possibly one of the biggest corporate crypto grabs in recent history — particularly for altcoins. 

Cointelegraph analyzed 16 company statements since Monday, which either announced a plan to buy or raise money for crypto. Ether 

 was the hottest target.

At least five public companies have bought or have promised to purchase over $3 billion worth of ETH, which is around 45 times more than the amount of ETH issued in the past week.

The so-called crypto treasury companies are the latest Wall Street fad as traditional financiers, often restricted from being able to directly buy crypto or related exchange-traded products, look to gain exposure to the rapidly growing sector.