The European Investment Bank issued its first ever digital bond on the Ethereum blockchain, ether's underlying network.
Bitcoin's dominance of the crypto market fell below 50% last week for the first time since August 2018, according to CoinMarketCap.
Ether hit an all-time high Thursday as bitcoin's dominance of the cryptocurrency market declined.
The world's second-largest digital currency by market value surged to a fresh record of $2,800 on Thursday morning, according to data from Coin Metrics. Bitcoin, the top digital coin, was slightly lower at a price of $54,471.
The move comes after the European Investment Bank announced Wednesday that it had issued its first ever digital bond on the Ethereum blockchain, ether's underlying network. This led to speculation that the currency is gaining traction among mainstream financial institutions.