Ethereum reserves are becoming the new trend in the market! Which listed companies holding coins are worth betting on?

U.S. publicly traded companies have recently sparked a trend of accumulating Ethereum.

Recently, $以太幣 (ETH.CC)$ Ethereum has led the crypto market strongly, reaching nearly $3,200 at one point, and the price has doubled since April 9.

In the Capital Markets, following the trend of Bitcoin reserves becoming a new craze among U.S. listed companies, Ethereum reserves are rising as the new darling of the market. According to reports, the reasons behind the bullish Ethereum bets include:

1. The success of Bitcoin reserve companies like MSTR

2. The staking rewards of Ethereum

3. The potential of Ethereum in narratives related to stable coins and RWA in the future

Primitive Ventures states that the natural yield-generating capability of Ethereum staking and its role in the DeFi ecosystem make it a true productive asset, whereas Bitcoin lacks such mechanisms.

The CEO of Bitmine believes that the appeal of Ethereum lies in its status as the first layer blockchain for tokenizing real-world assets. As more and more things in the financial world and real world are tokenized, Financial Institutions like Goldman Sachs, JPMorgan, and Amazon, Walmart will also want to stake Ethereum itself, just as they have done with stablecoins; we are doing what these enterprises will do in the future.

PreviouslyThe wave of stablecoins is surging; will Ethereum benefit from this? Institutions are Bullish on Ethereum, with a peak of 14,000 USD this year.An article has summarized the companies holding Ethereum in the current US stock market; interested mooers can click to view.

This article will explain the business and the scale of holdings of the current five star companies holding Ethereum to mooers.

• SharpLink Gaming

$SharpLink Gaming(SBET.US)$ The original main business was online sports Gambling. The company announced the establishment of an Ethereum treasury at the end of May and nominated Ethereum co-founder Joseph Lubin as the chairman of the board.

From the stock price performance, since officially announcing the establishment of an Ethereum treasury in May, it surged over 20 times at one point. However, with SharpLink submitting an S-3 form to the SEC to register over 58.7 million shares for potential resale in the future, it was interpreted by the market as 'a large sale impending,' triggering panic selling, and the stock price briefly fell below 9 USD.

However, SharpLink Gaming's recent stock price has stabilized and risen, with its official announcement of currently holding 280,706 Ether, making it the company that holds the most Ether in the world, once again becoming the focus of market attention.

According to data from STRATEGICETHRESERVE.XYZ, the current premium ratio of SharpLink Gaming is 2.35. Additionally, according to Foresight News, SharpLink has pledged all of its Ether reserves and received a reward of 100 Ether from June 28 to July 4. Since the pledge program was launched on June 2, the cumulative pledge earnings have reached 322 Ether.

• Bitmine

$Bitmine Immersion Technologies(BMNR.US)$ Originally a mining company, it relied on immersion cooling technology to mine blockchain in Texas and Trinidad.

This year, the company has boldly shifted its focus to the Ether ecosystem, announcing that it will raise $0.25 billion through private placement, fully investing in purchasing Ether, with the aim of becoming the "largest Ether corporate holder in the world." Unlike SBET, BitMine still retains its original BTC mining business.

This private placement not only attracted heavyweight capital but also included veteran Wall Street market observer, Fundstrat Global Advisors co-founder Tom Lee, who has also joined the BitMine Board of Directors as chairman.

Currently, the company holds 0.1631 million Ether, with a premium ratio of 4.02. Additionally, it is noteworthy that billionaire venture capitalist and Palantir founder Peter Thiel has bought 9.1% of BitMine through his fund, expressing optimism about the company transitioning from Bitcoin mining to holding large amounts of Ether.

• Bit Digital

$Bit Digital(BTBT.US)$ Initially focused on Bitcoin mining, the company gradually laid out Ethereum staking infrastructure starting in 2022, along with businesses such as GPU cloud computing and asset management services.

Bit Digital recently stated that it has raised approximately $0.172 billion in total revenue through a public stock offering, and using these funds along with the sale of 280 Bitcoins, has ultimately accumulated 100,603 Ethers on its balance sheet. The company has accumulated a growth of over 12% this year, with a current premium-to-NAV ratio of 2.95.

Bit Digital's CEO Sam Tabar expressed confidence that Ethereum has the capability to rewrite the entire financial system. The programmability of Ethereum, its increasing adoption rates, and staking yield models represent the future of digital assets.

The company describes itself as a platform focused on Ethereum fundraising reserves in the public market, and intends to further increase its holdings of Ethereum.

It is also noteworthy that Bit Digital's data center subsidiary WhiteFiber has submitted an application to the U.S. Securities and Exchange Commission to raise an estimated $0.1 billion through an initial public offering.

• BTCS Inc

$BTCS Inc(BTCS.US)$ is one of the early blockchain companies listed on the Nasdaq, focusing its core business on the operational infrastructure of Ethereum and other Proof of Stake (PoS) blockchain networks, with its main business including running Ethereum nodes and providing the data analytics platform ChainQ, offering staking and data services for DeFi and enterprises.

BTCS announced in July that it will launch a $0.1 billion fundraising plan to increase its purchases of Ethereum. On Monday, it also announced that it borrowed an additional 2.34 million USDT from decentralized finance lending protocol Aave to purchase more Ethereum, bringing the company's total borrowing on Aave to approximately 17.8 million USDT.

Currently, the company holds 0.0319 million Ether, with a premium ratio of 1, which is the lowest among companies holding Ether, as of the time of writing, the year-to-date increase is 90%.

BTCS states: firmly believes that Ethereum has tremendous growth potential and will become the core of future digital financial infrastructure. Our capital strategy consistently aims to reduce equity dilution and strengthen liquidity, while maintaining sound financial management to safeguard Shareholder rights.

• GameSquare

$GameSquare(GAME.US)$ is a gaming media group focused on creating creator-led marketing content for global advertisers targeting Gen Z players. In July, the company announced that its board of directors had approved a plan to establish a reserve of up to 0.1 billion dollars in Ether. Currently, the company holds only 1,800 Ether, with a premium ratio of 11.91.

GameSquare's shift towards an Ethereum reserve strategy is a bold expansion beyond its core gaming media business. This strategy will be built on the platform "Medici" developed by its collaborative investment firm Dialectic, with an expected annualized return of 8% to 14%, exceeding the current average staking return of 3% to 4% for Ethereum. The company may also incorporate other yield strategies within the Ethereum ecosystem in the future, utilizing stablecoins and NFTs as assets to create additional revenue streams.