Ethereum isn’t just for tech startups and DeFi fanatics anymore. A growing group of public companies is now locking it away in their treasuries. Altogether, they’re holding more than 865,000 ETH, worth around $3.2 billion. That’s not a rounding error. It’s a sign that Ethereum is starting to play a much bigger role in corporate finance.
SharpLink Gaming tops the list with 360,807 ETH, worth over $1.3 billion. Bitmine is close behind, with around 300,700 ETH on its books. Together, that’s over $2 billion in ETH between just two firms. Others, like GameSquare and BTCS, have also joined the club recently, quietly padding their reserves while Ethereum’s market cap continues to climb.
The pace of this buildup has been rapid. In just a few weeks, four public firms added more than 113,000 ETH combined. That’s not a casual purchase. The number of companies holding ETH publicly jumped from 40 to 58 in the same period. It’s a pretty clear message that something is clicking with institutional buyers.
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Ethereum has consistently captured the tech crowd’s attention, powering everything from NFTs to sophisticated smart contracts. But this wave of interest is different. These companies aren’t just dabbling. They’re adding ETH to their balance sheets like they would cash or gold. That kind of move doesn’t happen unless executives are convinced it’s here to stay.
Bitmine’s stock is a perfect example. After revealing its ETH holdings, the share price took off. Investors clearly saw value in the strategy, and that reaction hasn’t gone unnoticed. It’s one thing to hold crypto privately. It’s another to go public with it and watch the market reward the move.
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Of course, this isn’t a one-way bet. Ethereum’s price doesn’t move in straight lines, and these companies are fully exposed to that volatility. Holding a big pile of ETH can boost your stock price when markets are bullish, but it cuts both ways. This kind of approach takes confidence and a strong stomach.
Bitcoin used to be the main coin in town when it came to corporate crypto. That’s starting to change. Ethereum is now being treated like a legitimate treasury asset, not just a tool for developers. That’s a big shift from where things stood even a year ago.
The big question now is whether the trend keeps growing. If Ethereum holds its ground, other public firms could feel pressure to follow suit. For now, this is a sign that Ethereum is moving into a new role. It’s no longer just part of the crypto conversation. It’s becoming part of the corporate one, too.
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The post Public Companies Now Hold $3.2 Billion in Ethereum, Surpassing 865,000 ETH appeared first on 99Bitcoins.
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