Ethereum News Today: Ethereum Treasury Firms Surge as 2% Supply Held by DATs

The growing momentum around Ethereum (ETH) treasury companies is reshaping the landscape of corporate digital asset holdings, as more firms focus on accumulating the second-largest cryptocurrency. Known as Digital Asset Treasuries (DATs), these entities are gaining attention for their strategic accumulation of ETH, with some now holding a significant portion of the circulating supply. BitMine Immersion (BMNR), for instance, has emerged as a key player, disclosing a $4.96 billion ETH treasury just weeks after announcing its accumulation strategy. The company now holds the world’s largest corporate ETH reserve, with a stated goal to own 5% of the ETH supply [1].

This surge in ETH treasury activity is part of a broader trend. ETH treasury companies now hold nearly 2% of all ETH, up from around 0.5% just a month ago [1]. While this is still significantly lower than the percentage of Bitcoin held by treasury firms—largely dominated by MicroStrategy (MSTR)—the rapid growth of ETH-focused entities suggests a shifting dynamic in corporate crypto strategies. The market capitalization of ETH-focused treasury companies is currently about 11% of that of BTC-focused counterparts ($12.7 billion vs. $107.6 billion), but this gap may narrow as more firms enter the space [1].

Analysts have noted that the recent surge in trading volumes for ETH treasury companies is largely driven by new entrants. Benchmark analyst Mark Palmer described it as a “new-entrant phenomenon,” with the expectation that similar volume spikes could occur as firms target other cryptocurrencies and begin deploying capital [1]. Unlike in the dot-com era, where companies offered similar services with minimal differentiation, crypto treasury firms are adopting varied strategies—focusing on specific cryptocurrencies, jurisdictions, or unique accumulation models. This diversity could help insulate the sector from traditional bubble-like collapse [1].

Ethereum’s recent price performance has also contributed to the rising interest. In a week of strong altcoin activity, ETH surged over 30%, drawing increased participation from institutional investors and traditional financial firms. Standard Chartered reported that Ethereum ETFs now account for approximately 3.8% of the circulating ETH supply, while corporate treasuries have added 2.3 million ETH—equivalent to 1.9% of the total supply [2]. This level of accumulation reflects a growing institutional recognition of Ethereum’s role in diversified investment portfolios.

Despite the enthusiasm, the sector remains subject to scrutiny. Some industry observers have raised concerns about the sustainability of the trend, particularly for copycat firms lacking a clear value proposition or those targeting less-established assets. However, as the model continues to evolve, it is becoming increasingly clear that ETH treasuries are not merely speculative vehicles but part of a broader shift in corporate risk management and long-term asset allocation [1].

Source:

[1] Blockworks - https://blockworks.co/news/eth-treasury-companies-growth

[2] Mitrade - https://www.mitrade.com/insights/news/live-news/article-3-1039572-20250814