Ethereum turned 10, and Ether’s role as a treasury reserve is growing. Read about current trends.
The Ether Machine started deploying its ETH treasury strategy, with over $400 million in reserves remaining for future purchases.
The Ether Machine said it bought 15,000 ETH for $56.9 million, bringing its total holdings to 334,757 ETH.
The company plans to use the proceeds of the raise to accumulate ether as its primary reserve asset.
BTCS currently holds around $265.3 million worth of ether, according to its latest disclosure released Monday.
The transaction was backed by sixty institutional and crypto-native investors, including Polychain Capital, GSR.
Corporate treasuries have bought 1% of all ether in circulation since the beginning of June, the report said.
Cathie Wood's investment firm added a total of 529,366 BMNR shares to its Innovation and Next Generations Internet ETFs
A $1 billion ether treasury could generate as much a $50 million in annual yield, the report said.
Joseph Chalom spearheaded BlackRock's foray into blockchain and digital assets, including the introduction of a spot ETH ETF.
The Frisco, Texas-based firm also added to its ether treasury, buying 2,742.75 ETH, worth just over $10 million
BitMine's ether holdings surged to 565,821 ETH, worth more than $2 billion, as the competition between Ethereum treasury firms continues.
The ether treasury company said it bought nearly 80,000 ETH over the last week as Joseph Lubin praised the GENIUS Act as a watershed moment for regulatory clarity.
The move comes amid a broader trend of companies turning to an ether treasury reserve, with several firms seeing significant share price increases in recent weeks.
Ethereum is undergoing a critical test after breaking above the key $2,850 resistance level and reaching a local high of $3,080. Since then, ETH has retraced by less than 5%, holding steady and showing signs of strength amid broader market volatility. The ability to maintain levels above $2,850 is being closely watched by traders and analysts as a potential launchpad for the next leg higher. Related Reading: Ethereum Supply Locked Hits New ATH: Smart Money Bets On Long-Term Growth Market sentiment remains increasingly optimistic, fueled by strong fundamentals and signs of institutional accumulation. According to on-chain data, SharpLink Gaming—one of the first Nasdaq-listed companies to develop a treasury strategy centered on Ethereum—purchased another $73,210,000 worth of ETH yesterday. This marks another strong signal that smart money is confident in Ethereum’s long-term value. As the crypto market awaits key developments from US regulators during “Crypto Week,” Ethereum’s price action and on-chain indicators remain aligned with a bullish outlook. If ETH can hold current levels and build momentum, the path toward $3,500 becomes increasingly realistic. With rising institutional demand and strong network fundamentals—including record ETH staking—Ethereum appears well-positioned to lead the next phase of the altcoin market rally. SharpLink Becomes Largest Public ETH Holder With $611M in Ethereum SharpLink Gaming has officially become the largest publicly known holder of Ethereum, with total holdings now reaching 205,634 ETH, valued at approximately $611 million. This milestone positions the Nasdaq-listed company at the forefront of institutional Ethereum adoption, setting a new benchmark for corporate treasury strategies in the crypto space. Top analyst Ted Pillows confirmed the latest purchase through on-chain data, revealing that the transaction originated from a Coinbase Prime hot wallet, commonly used by institutions for large-scale acquisitions. This move signals increasing confidence in Ethereum’s long-term value, particularly as companies begin diversifying beyond Bitcoin to gain exposure to smart contract infrastructure. Ethereum’s technical setup remains strong, with price holding well above the $2,850 support zone following its recent move to $3,080. At the same time, fundamentals continue to improve. The ETH supply staked has reached new all-time highs, indicating that more long-term holders are locking up their assets rather than selling into strength. Combined with increased institutional interest, this reflects growing conviction in Ethereum’s role as a foundational layer for Web3. The coming weeks promise to be pivotal. With market sentiment turning bullish and Ethereum gaining traction in corporate circles, the stage is set for a sustained upward move, especially if broader macro and regulatory conditions remain favorable. Related Reading: $30B In Bitcoin Added By Accumulator Wallets: Are Long-Term Players Preparing Early? ETH Holds Above Key Breakout Zone Ethereum’s 3-day chart shows a bullish continuation pattern, with price currently holding at $2,978 after recently breaking through a critical resistance zone at $2,850. The breakout marked a shift in momentum following a prolonged consolidation phase and pushed ETH to a local high of $3,041.41. Although a slight retracement followed, the current structure remains strong as bulls successfully defend the $2,850–$2,900 area. This level is particularly important as it aligns with multiple technical indicators. The 200-day simple moving average (SMA) sits at $2,805.46, now acting as dynamic support. ETH also remains well above the 50-day and 100-day SMAs, currently at $2,244.80 and $2,661.68, confirming that the broader trend has turned bullish. Related Reading: Bitcoin Long-Term Holders Remain Steady As CDD Normalizes After False Alarm Volume remains elevated, suggesting continued buying interest on dips. If ETH holds above $2,850 in the coming sessions, the next logical target is the $3,300–$3,500 zone, where previous highs and psychological resistance converge. Featured image from Dall-E, chart from TradingView
The shares rose over 40% after revealing the large ETH holdings, following a 50% drop after a $2 billion at-the-market offering.
The investment adds to the growing public ether treasuries, which currently hold over 1.34 million ETH, according to a public tracker.
The company introduced a new metric, ETH Concentration, that measures the number of ETH held per 1,000 diluted shares outstanding.
The company in late June announced a shift to focus on ether holding and staking.
Tom Lee, the market strategist known for his insightful predictions on Bitcoin (BTC) and broader crypto prices, has taken on the role of chairman of the board at BitMine Immersion Technologies, a Bitcoin mining company now setting its sights on becoming the largest publicly traded holder of Ethereum (ETH). Tom Lee Appointed Chairman At BitMine Lee’s appointment comes alongside an ambitious plan to raise $250 million in a private placement aimed at implementing a strategy that positions Ethereum as the primary treasury reserve asset, while still maintaining its core Bitcoin mining operations. This initiative reflects a growing trend within the financial services sector, where the convergence of traditional finance and cryptocurrency is gaining momentum, further highlighted by President Trump’s decision to establish a strategic crypto reserve. Related Reading: Solana Forms Bullish Flag On Daily Chart — Breakout Imminent? Lee highlighted this shift during an appearance on CNBC’s “Squawk Box,” stating, “The financial services industry and crypto are converging, and it really started with stablecoins.” Lee likened stablecoins to the “ChatGPT of crypto,” emphasizing their widespread adoption among consumers, businesses, and financial institutions, including major players like Visa. Interestingly, stablecoins have gained a major victory in Congress last week with the passage of the GENIUS Act which aims to provide a new regulatory framework for these crypto assets. Transforming Into An Ethereum Treasury Powerhouse According to Lee, Ethereum serves as the foundational architecture for stablecoins, making it crucial for BitMine to accumulate ETH in order to influence and secure its position within the network. The company’s strategy will include monitoring the value of Ethereum held per share as a key performance metric, akin to Strategy’s (previouisly MicroStrategy) well-known “BTC Yield” metric for Bitcoin. During his interview, Lee explained that BitMine plans to enhance the value of ETH per share through reinvestment of cash flows, capital market activities, and the appreciation of Ethereum itself. As more companies explore treasury management strategies beyond Bitcoin, BitMine is not alone in its pivot. It joins other firms like SharpLink Gaming, which initiated its own Ethereum treasury strategy earlier this year, and DeFi Development, which is focusing on Solana. Related Reading: Wave 3 Ignites As XRP Breaks Structure—Analyst Says ‘Fireworks Ahead’ This announcement sparked a major surge for the Bitcoin mining company which started the day with a market capitalization of just $26 million. However, following Lee’s interview, the number skyrocketed beyond the $200 million mark. BitMine’s stock, trading under the ticker name BMNR, also saw a major surge on Monday closing the day at $33.90 per share. According to Yahoo Finance data, this means a nearly 700% surge for the mining firm’s shares. On the other hand, Ethereum has retraced 1% below the key $2,500 level in the 24-hour time frame to its current price of $2,470 per token. Featured image from DALL-E, chart from TradingView.com