Ethereum Gains Favor as a Corporate Treasury Asset Beyond Bitcoin
Main Idea
Ethereum is increasingly being adopted as a corporate treasury asset by companies like BitMine Immersion, Bit Digital, and Coinbase, reflecting growing confidence in its potential beyond Bitcoin.
Key Points
1. BitMine Immersion holds over $1 billion in Ethereum after going public in June, signaling strong conviction in Ethereum's potential.
2. Bit Digital fully converted its treasury from Bitcoin to Ethereum, with its stock increasing 17% this year following the move.
3. Coinbase holds more than $440 million in Ethereum and was the first public company to confirm Ethereum on its balance sheet in 2021.
4. Ethereum's price has surged 60% in the past month, trading near $3,800, though it remains below its 2021 high of over $4,600.
5. WisdomTree and Fidelity filed SEC applications for in-kind ETH and BTC redemptions, allowing investors to redeem shares for the actual cryptocurrencies.
6. The GENIUS Act, signed into law on July 18, regulates stablecoins backed by assets like U.S. dollars, with Circle's USD Coin operating on Ethereum.
7. MicroStrategy continues to focus exclusively on Bitcoin, with no plans to add Ethereum to its balance sheet.
Description
BitMine Immersion holds over $1 billion in Ethereum after going public in June. Bit Digital fully converted its treasury to ETH, while Coinbase holds over $440 million in Ethereum. WisdomTree and Fidelity filed SEC applications for in-kind ETH and BTC redemptions. A new trend is taking hold in corporate finance whereby companies are adding Ethereum (ETH) to their balance sheets. The move expands the use of digital assets in corporate treasuries beyond just Bitcoin (BTC), as firms increasingly se...
Latest News
- Arthur Hayes Bets on ‘Internet Status’ Over Tech in the Punks vs. ETH Trade This Cycle2025-07-23 16:27:13
- Goldman Sachs, BNY Mellon Team Up on Blockchain for Money-Market Funds2025-07-23 16:04:39
- Here’s How Star System Labs Is Building Real Infrastructure Utility for Memes Coins2025-07-23 15:43:16
- MICAR-Compliant Tokenforge Introduces Utility Token TKFG2025-07-23 15:21:13
- CoinDCX CEO Vows a “Stronger” Comeback and Launches a 25% Bounty2025-07-23 14:55:36