Ethereum Treasuries on the Rise: Publicly Listed Companies Increase Holdings
The trend of publicly listed companies adding Ethereum (ETH) to their treasuries continues to grow, with recent data from Strategic ETH Reserve revealing that 58 entities now hold a total of 865,265 ETH, equivalent to roughly $3.2 billion.
In a recent update, it was reported that four publicly listed companies made significant additions to their Ethereum holdings. GameSquare Holdings, for instance, invested $30 million in July 2021 to acquire 8,351.89 ETH, bringing their total holdings to 10,170.74 ETH.
Another player in the space, BTCS, announced that they hold 55,788 ETH with an average acquisition price of $2,846, resulting in a treasury value of over $206 million at Ethereum’s current price of $3,698.75.
BTC Digital also joined the fray by purchasing $5 million worth of ETH, increasing their holdings to 2,135 ETH and a total treasury value of nearly $8 million.
SharpLink, a company with Ethereum co-founder Joseph Lubin on its executive board, made a substantial purchase of 79,949 ETH between July 14 and 20, bringing their total Ethereum holdings to 360,807 ETH, valued at around $1.3 billion. This move solidifies SharpLink’s position as the largest holder of ETH among the publicly listed entities.
The growth in Ethereum treasuries is not limited to these companies, as Strategic ETH Reserve also tracks the holdings of other publicly listed entities. Centaurus Energy, for example, holds 137 ETH, Moss Ethereum has a treasury of 324 ETH, Intchains Group and ETH Strategy hold approximately 7,000 ETH and 7,900 ETH respectively.
Bit Digital made a significant shift by swapping its entire 280 Bitcoin treasury for Ethereum, expanding their holdings to 120,306 ETH.
Lastly, Bitmine acquired 163,000 ETH last week, bringing their total holdings to nearly 300,700 ETH. This move puts Bitmine in the league of SharpLink as one of the top holders of Ether, surpassing even the Ethereum Foundation in terms of their ETH holdings.
As more publicly listed companies continue to embrace Ethereum as a strategic asset, the landscape of corporate treasuries is evolving to include significant holdings of the world’s second-largest cryptocurrency.
This trend highlights the growing confidence in Ethereum as a store of value and investment opportunity, signaling a shift towards broader adoption of digital assets in traditional finance.