Ethereum Adoption Grows: GameSquare Invests $5 Million In ETH As Part Of Treasury Strategy

Key Points

1. GameSquare Holdings purchased 1,818.84 ETH at an average price of $2,749, totaling $5 million, as the first step in a $100 million Ethereum-focused treasury strategy.

2. The company aims to generate yield by engaging with DeFi protocols, contrasting with traditional Bitcoin-focused treasury strategies that focus on holding assets.

3. Ethereum is seeing increased accumulation by large investors ('smart money'), with some adding between 10,000 to 100,000 ETH earlier this month.

4. Ethereum-based spot ETFs have recorded nine consecutive weeks of positive inflows as of July 10, indicating broader investor interest.

5. At the time of reporting, ETH was trading at $2,993, up 7.4% in the past 24 hours, though still 40% below its all-time high of $4,878 set in November 2021.