Corporations Allocate $1.6 Billion to Ethereum in Past Month

Corporations are increasingly viewing Ethereum as a critical infrastructure component, fueling a surge in ETH allocations within corporate treasuries. This shift is driven by the appeal of Ethereum as a hybrid between tech equity and digital currency, which attracts treasury strategists looking beyond passive storage. According to Ray Youssef, CEO of finance app NoOnes, this trend is evident in the recent purchases of Ether (ETH) by top corporate treasuries, which have acquired at least $1.6 billion worth of ETH in the past month.

BitMine, chaired by Fundstrat’s Tom Lee, revealed that it holds 163,142 ETH, valued at around $480 million. SharpLink Gaming, founded by Ethereum co-founder Joseph Lubin, leads corporate ETH holdings with over 280,000 ETH, totaling over $840 million. Other notable corporate buyers include Bit Digital, which has more than 100,000 ETH, and Blockchain Technology Consensus Solutions (BTCS), which increased its holdings to 29,122 ETH following a $62.4 million raise. GameSquare also announced a $100 million ETH treasury plan.

Youssef highlighted that the shift towards Ethereum shows utility now rivals narrative in driving institutional choices. “Bitcoin has long held the title of digital gold standard, but Ethereum is gradually winning over institutions that seek to align their balance sheet with the networks that drive tokenized finance,” he said. This trend is driven by ETH’s staking yield, programmability, and compliance-friendly roadmap, making it appealing to forward-looking companies, especially those already involved in the digital economy.

Youssef predicted that Ethereum’s influence will continue to grow, becoming the digital rail for tokenized assets, stablecoins, and smart contract execution. This makes it a preferred reserve cryptocurrency for firms operating in these areas. Most stablecoins and real-world asset (RWA) protocols are built on Ethereum or Ethereum-compatible chains. Ethereum dominates the RWA market with 315 projects valued at $7.76 billion, commanding a 58.1% market share. Following behind is the Ethereum layer-2 solution ZKsync Era, hosting 37 projects worth $2.27 billion and holding nearly 17% of the market. Solana ranks third with 79 projects valued at $553.8 million and a smaller 4.15% market share, though it showed the strongest growth rate of 22.28%.

Youssef called Ethereum’s dominance in tokenized US Treasurys the beginning of broader adoption for onchain debt, equity, and yield products. “Ethereum provides the standards and liquidity for these instruments to thrive,” he said. However, regulatory uncertainty remains a key barrier to ETH treasury adoption. There is a need for better guidance on how staking is classified, whether it counts as a service, a security, or something different. For corporations to jump in, they also need clarity on accounting, tax treatment of staking rewards, and custody standards. “Large corporations tend to move slowly because they can’t afford legal ambiguity. Once those boxes are ticked, adoption will accelerate,” Youssef noted.