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Bitwise has filed for an ETF that targets companies holding at least 1,000 BTC in their treasury, promoting the "bitcoin standard." Additionally, there’s a filing for a combined ETF for Bitcoin and Ethereum by Hashdex, which some believe is a missed opportunity for decentralized finance.
This article discusses Bitmine, a company that has rapidly grown its Ethereum treasury from $250 million to $5 billion. Tom Lee, a prominent Wall Street strategist, backs the firm and believes Ethereum is poised for significant growth, comparable to Bitcoin's rise in 2017.
SharpLink has increased its Ethereum holdings by purchasing 19,271 ETH for approximately $75 million, bringing its total to nearly 860,000 ETH. This treasury, worth around $3.5 billion, positions SharpLink as a significant player in the Ethereum ecosystem.
SharpLink Gaming has initiated a $1.5 billion share repurchase program, buying back 939,000 SBET shares at an average price of $15.98. The company, which holds approximately $3.6 billion in ETH and has no debt, believes its shares are undervalued and aims to enhance stockholder value through disciplined capital allocation.
BitMine Immersion Technologies has increased its Ethereum holdings to 566,776 ETH, valued at over $2 billion, becoming the largest publicly traded Ethereum treasury firm. This surge follows significant investments from prominent backers like Peter Thiel and Ark Invest, fueling a competitive race among crypto treasury firms for ether accumulation.
Bit Digital has raised $162.9 million through share offerings to fund its transition from Bitcoin mining to establishing an Ethereum treasury. The firm plans to convert its existing Bitcoin holdings into Ether as part of its strategic pivot, reflecting a broader trend among publicly traded companies moving towards Ethereum investments.
The Ethereum Foundation has announced its new treasury policy aimed at enhancing the management of its financial resources. This policy is designed to support the foundation's long-term sustainability and funding strategies, ensuring efficient allocation of funds to various projects within the Ethereum ecosystem.