Ethereum Gains 7% as Companies Boost Treasury Holdings

Several companies are increasingly adopting Ethereum (ETH) as a key component of their treasury strategies, reflecting a growing institutional interest in the world’s second-largest cryptocurrency. Ethereum has seen a 7% increase over the past week and is currently trading at $2,624, although it has been locked in a sideways channel for the past two months despite institutional involvement.

Ethereum co-founder Joe Lubin highlighted the rising corporate interest in Ethereum, noting that companies are eager to "tell the Ethereum story." He emphasized that Wall Street's attention is drawn to opportunities that can generate profits, suggesting that Ethereum's potential for financial gains is a significant factor in its growing appeal.

GameSquare Holdings recently announced the launch of an ETH-based treasury strategy in partnership with crypto capital management firm Dialectic. The company's board has approved an ETH allocation of up to $100 million, which will be deployed in stages to provide liquidity for ongoing operations. The ETH-focused treasury is built on Dialectic’s proprietary Medici platform, which integrates machine learning, automated optimization, and risk management systems. GameSquare is targeting annual yields of 8-14%, significantly higher than the current staking benchmarks of 3-4%. To fund the Ether acquisitions, GameSquare launched a public offering of over 8.4 million shares at $0.95 per share to raise approximately $8 million.

SharpLink Gaming, another media and sports betting technology company, disclosed that it now holds 205,634 ETH, valued at over $533 million. Between June 28 and July 4, SharpLink acquired 7,689 ETH for over $19 million at an average price of $2,501 per token. The company has committed all of its Ether holdings to staking and restaking protocols, earning 322 ETH in rewards since June 2. SharpLink raised $64 million in net proceeds to fund the ETH investments by selling more than 5.4 million shares. In May, it filed plans to sell up to $1 billion in common stock, with the bulk of the proceeds earmarked for more ETH acquisitions. Lubin, who is SharpLink’s chairman, emphasized that the strategy is rooted in financial discipline and transparency, noting that adding ETH to corporate treasuries helps to reduce excess Ether supply and could eventually create positive price pressure.

Bit Digital, a Nasdaq-listed company, has completely exited its Bitcoin holdings in favor of Ethereum. The company sold all of its BTC assets, raising $172 million in the process, and used the funds to acquire more than 100,000 ETH. After buying Ethereum, Bit Digital is reportedly one of the largest corporate Ethereum treasury firms globally. CEO Sam Tabar expressed confidence in Ethereum's potential to rewrite the entire financial system, stating that the company intends to aggressively add more ETH to become the preeminent ETH holding company in the world.