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Public Companies Amassed 95% of Their ETH Treasuries in Just the Last Quarter

By: crypto insight|2025/10/16 12:30:03

As of October 16, 2025, the world of cryptocurrency is buzzing with how public companies have been snapping up Ethereum like it’s going out of style. Imagine a gold rush, but instead of picks and shovels, it’s digital wallets filling up with ETH. In the past three months alone, these firms have built a staggering 95% of their Ethereum holdings, turning what was once a niche strategy into a full-blown trend. This surge happened during Ethereum’s strongest quarter in years, pushing the asset’s value and hype to new heights. But as the dust settles, we’re left wondering: is this a sustainable play, or just a fleeting thrill?

ETH Treasuries Skyrocket Amid Market Hype

Picture this: Ethereum just wrapped up its best-performing quarter since 2016, with prices soaring and on-chain activity hitting record levels. Public companies jumped in headfirst, accumulating massive ETH reserves that now total around 5.9 million tokens. That’s no small feat—it’s like these firms decided to hoard digital treasure during a perfect storm of market excitement. According to recent data from Bitwise, nearly all of this ETH was bought in Q3 2025, outpacing new token issuance by a factor of seven. This buying spree not only crunched the supply but also fueled rallies in related stocks, making ETH treasuries a hot topic for investors eyeing long-term growth.

These companies aren’t just dipping their toes; they’re diving in with a clear playbook. Unlike Bitcoin-focused treasuries, which often serve as simple exposure plays, ETH holdings are tied to broader visions. Some stem from old ICO reserves that firms are holding onto tightly, while others are fresh acquisitions aimed at staking for passive income or integrating with decentralized finance. The result? A new wave of corporate adoption that’s reshaping how we think about altcoins like SOL and BNB, though ETH and BTC still dominate the scene.

Acquisition Pace Slows as Market Cools

Lately, though, the frenzy has dialed back a notch. After an explosive start, public companies have slowed their ETH buys, especially as prices hovered just above $4,000 amid some market jitters. Take BitMine Immersion Tech (BMNR), for example—they’re leading the pack with ambitions to snag 5% of the entire ETH supply. Their latest move? Scooping up another 202,000 ETH on October 11, 2025. Since then, it’s been crickets from most players, signaling a shift from rapid expansion to cautious observation.

This slowdown comes after a period where these firms raised funds aggressively through stock issuances, capitalizing on the hype. But with market turbulence reminding everyone of crypto’s volatility, the strategy is under the microscope. Will it weather a bear market? Early signs suggest resilience, especially since ETH’s on-chain metrics—like stablecoin transfers—are at all-time highs, outshining competitors and positioning it as the go-to network for institutional finance.

Only a Handful of ETH Treasury Firms Trade at Premiums

Here’s where it gets interesting: not all these ETH treasury companies are reaping equal rewards in the stock market. Most are trading at or below their net asset value (NAV), a far cry from the premium multiples seen during the initial buying rush. Right now, only three stand out—BMNR at a 1.16 ratio, BTBT at 2.0, and GAME at 1.05. It’s like comparing a steady marathon runner to sprinters who burn out fast; these frontrunners have shown they can maintain value even as others falter.

This disparity highlights a key challenge: proving long-term sustainability. Many of these ETH playbook companies are relatively new, untested against downturns. Yet, their bet on Ethereum’s ecosystem—including staking yields and on-chain utility—could pay off big if adoption continues. Recent updates from Twitter echo this sentiment, with users buzzing about Ethereum’s role in national projects, like Bhutan’s migration of its digital ID to the network. On Google, top searches revolve around “how do ETH treasuries work” and “best public companies holding ETH,” reflecting growing curiosity amid the slowdown.

In fact, the conversation on social media has heated up with posts from influencers and analysts pointing to October 15, 2025, tweets from Bitwise highlighting corporate adoption trends. These discussions often contrast ETH’s steady accumulation with more volatile assets, using analogies like ETH as the “digital oil” powering the crypto economy versus Bitcoin’s “digital gold.” Evidence backs this up: Ethereum’s network activity has surged, processing more transactions than ever, which supports claims of its edging out rivals in real-world utility.

Aligning Brands with ETH’s Future Through Strategic Platforms

As public companies align their brands with Ethereum’s innovative edge, it’s worth noting how platforms like WEEX exchange are enhancing this ecosystem. WEEX stands out by offering seamless, secure trading for ETH and other assets, with features that prioritize user experience and reliability. This aligns perfectly with the treasury-building trend, providing tools for efficient accumulation and management. By focusing on low fees, advanced security, and intuitive interfaces, WEEX empowers both novice and seasoned traders to engage with ETH treasuries confidently, boosting overall market credibility and accessibility.

Looking ahead, the real test for these ETH treasury strategies will come in the months following this quarter’s highs. With Ethereum’s fundamentals stronger than ever—think peak usage for financial ops and institutional crossovers—the stage is set for more players to join in. It’s a narrative of evolution, where corporate boldness meets blockchain potential, and only time will tell who emerges victorious.

FAQ

What are ETH treasuries and why are public companies building them?

ETH treasuries refer to reserves of Ethereum held by public companies as part of their balance sheets. They’re building them to gain exposure to crypto growth, hedge against inflation, and potentially earn yields through staking, much like diversifying a portfolio with high-potential assets.

How has the recent market slowdown affected ETH treasury accumulation?

The slowdown has led to fewer purchases as prices stabilized around $4,000, shifting focus from rapid buying to long-term holding. Companies like BMNR continue selective acquisitions, but overall activity has cooled, reflecting caution in volatile conditions.

Are ETH treasury companies a good investment right now?

It depends on your risk tolerance. While some trade at premiums and show strong NAV ratios, others are undervalued. Backed by Ethereum’s robust on-chain activity, they offer potential, but they’re unproven in bear markets—always research thoroughly before investing.

WEEX thắp sáng sân khấu toàn cầu với chuỗi sự kiện offline năm 2025
Nhà phân tích BiyaPay: Bitcoin sẽ đạt đỉnh vào tháng 11 năm 2025 và có thể lặp lại xu hướng thị trường tăng giá của năm 2021

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