Bitcoin News Today: Crypto Treasury Firms Buy $3 Billion in ETH Amid Rising Corporate Crypto Holdings

Cryptocurrency treasury firms have announced a surge in Ethereum purchases this week, with over $3 billion in ETH being acquired or committed, reflecting a broader trend of corporate interest in digital assets. The purchases, revealed through 16 company disclosures, mark one of the largest coordinated moves by public companies to invest in blockchain technology [1]. Ethereum has emerged as the dominant asset in these transactions, with firms opting for direct crypto holdings rather than traditional exchange-traded products.

BTCS Inc., a Bitcoin miner, led the effort by seeking up to $2 billion in equity to fund ETH acquisitions. Sharplink Gaming, founded by Joe Lubin, added $338 million in Ether through two separate deals. Other companies have fully restructured their business models around crypto, such as 180 Life Sciences Corp., which rebranded as ETHZilla Corporation in a $425 million deal, and Fundamental Global, which became FG Nexus with a $200 million commitment to Ethereum [1].

While Ethereum dominated, altcoins also attracted significant corporate attention. Tron Inc. revealed plans to raise $1 billion to purchase Tron (TRX) tokens, and other companies disclosed intentions to acquire Solana (SOL), Sui (SUI), and BNB. A notable entry was CEA Industries, a former Canadian vape company, which shifted its focus to BNB through a takeover by 10X Capital and YZi Labs. CEA aims to raise $500 million and potentially up to $1.25 billion for BNB purchases, which are closely tied to Binance co-founder Changpeng Zhao [1].

Further altcoin activity included Cemtrex Inc. purchasing $1 million in Solana with a target to scale to $10 million, and Mill City Ventures III finalizing a $450 million deal to pivot toward Sui token acquisition. These developments suggest that altcoins are no longer viewed solely as speculative assets but are increasingly being integrated into corporate strategic investments [1].

According to Galaxy Research, crypto treasury companies now hold more than $100 billion in digital assets, with $93 billion in Bitcoin alone. However, equity premiums vary significantly across firms. Michael Saylor’s Strategy holds a 58% premium due to its scale and maturity, while Japan’s Metaplanet trades at a 179% premium, driven by its aggressive capital formation strategy [1].

Will Owens, an analyst at Galaxy, warned that the treasury company model is highly dependent on sustained equity premiums. If the premium were to collapse or turn into a discount, the model could face structural challenges. He also highlighted the growing number of firms pursuing the same investment strategy, which could lead to systemic fragility [1].

Despite the attention on altcoins, Bitcoin remains a key asset for corporate treasuries. This week, seven companies announced combined $2.7 billion in Bitcoin purchases. Strategy (formerly MicroStrategy) led the charge with the acquisition of 21,021 BTC through a $2.5 billion preferred stock offering. The Smarter Web Company spent $26.5 million on 225 BTC, and Japan’s Metaplanet acquired 780 BTC for about $92 million. ZOOZ Power Ltd. also entered the market with a $180 million Bitcoin acquisition plan [1].

Sources: [1] Londoninsider.co.uk (https://londoninsider.co.uk/crypto-treasury-firms-bought-over-3bn-of-eth-this-week-amid-new-wave-of-accumulation/)