The 7 Largest Publicly Traded Ethereum Treasury Firms

The inclination of publically traded companies adopting crypto treasury strategies whitethorn person started with Bitcoin, but it has since expanded to a wide assortment of integer assets—including the second-largest crypto plus by marketplace cap, Ethereum. 

Now the contention to accumulate ETH is on, led by cardinal figures similar Fundstrat’s Tom Lee and Ethereum co-founder Joe Lubin, who are championing nationalist firms arsenic they rally astir Ethereum and its future. 

Per StrategicETHReserve.xyz, nationalist entities with Ethereum treasuries support much than 6.7 cardinal ETH valued astatine $20 billion, arsenic of this writing, and much than 5.5% of the full supply. These are the biggest holders arsenic of this writing.

Led by crypto bull and Fundstrat CIO Tom Lee, BitMine Immersion Technologies burst onto the country astatine the extremity of July erstwhile the steadfast detailed plans for an Ethereum treasury. 

Formerly focused connected Bitcoin mining, BitMine (BMNR) archetypal secured a $250 cardinal backstage concern successful nationalist equity (PIPE) fundraising circular to statesman its ETH purchases. 

Since that time, it hasn’t looked back, acquiring 3,967,210 ETH, worthy astir $11.8 cardinal worthy arsenic of this writing. The heap has grown truthful ample astatine BitMine that the steadfast present ranks arsenic the second-largest crypto treasury of immoderate kind, trailing lone Bitcoin behemoth Strategy (formerly MicroStrategy) with its $59 cardinal stash.

Ethereum Has Bottomed, Says BitMine Chairman Tom Lee—Here's Why

The assertive buying spree has coincided with Lee’s seemingly unfathomable ETH terms predictions, which see calls for $60,000 ETH. That’s a sizable aggregate of the existent price.

After readying a rise of $4.5 cardinal to accumulate the asset, Lee and institution upsized their offering by $20 cardinal successful August arsenic BitMine aims to grow its already industry-leading Ethereum treasury. The steadfast is squarely focused connected accumulating 5% of the circulating ETH supply—it holds astir 3.2% astatine contiguous time.

Gambling marketer turned Ethereum treasury institution SharpLink Gaming holds the second-largest publically traded ETH treasury. 

The steadfast maintains 863,424 ETH oregon $2.55 billion—around 86% of the mode to its archetypal stated extremity of accumulating 1 cardinal ETH.

While SharpLink’s existing concern did not person contiguous ties to crypto, it brought connected nonstop ties to Ethereum erstwhile it shaped its committee of directors. The firm’s chairman Joe Lubin is the co-founder of Ethereum itself, and laminitis and CEO of Ethereum bundle company, Consensys, the shaper of fashionable crypto wallet, MetaMask.

(Disclaimer: Consensys is 1 of 22 investors successful an editorially autarkic Decrypt)